Nykaa Shares Surge 11% Intraday To Hit An 11-Month High
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Nykaa Shares Surge 11% Intraday To Hit An 11-Month High

17 Nov'23 | By
Nykaa Shares Surge 11% Intraday To Hit A 11-Month High
SUMMARY

Shares of Nykaa rallied on Friday, even though the broader market was under pressure

After paring some of its gains, the Nykaa stock ended Friday’s trade 9.5% higher at INR 167.75

Shares of Nykaa have been witnessing a strong uptrend since last week

Shares of beauty and fashion ecommerce major Nykaa jumped as much as 11% to touch INR 170.10 during Friday’s intraday trade on the BSE, hitting an 11-month high. However, the stock later pared some of its gains, ending the day 9.5% higher at INR 167.75.

While most new-age tech stocks have gained sharply so far this year on the back of a promising path to profitability, it’s not the case with Nykaa. Due to the slow growth in its beauty and personal care (BPC) vertical and some degrowth in the fashion segment, the stock braced for rather muted gains this year.

B2CNykaaEcommerce
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