Jefferies has maintained its “Buy” rating on Nykaa, setting a target price of ₹220, which implies a 20% upside from the current market price (CMP) of ₹184.08. The brokerage’s confidence is supported by Nykaa’s recent Nykaaland 2.0 beauty festival, a unique three-day event held in Mumbai. The festival hosted over 80 brands and more than 1,000 content creators, drawing over 25,000 visitors and distributing around 400,000 product samples.
Jefferies observed that brands were highly impressed by the event’s turnout and the level of user engagement, reinforcing Nykaa’s influence in India’s beauty and personal care market. With evolving grooming and makeup habits, India is positioned as a key growth market, where Nykaa serves as an essential partner for brands looking to reach consumers.
The brokerage anticipates continued growth for Nykaa as it strengthens its role in India’s beauty and wellness industry.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a financial advisor for guidance on investment decisions.
