Shares of FSN E-Commerce Ventures Ltd., the parent company of Nykaa, saw a remarkable surge of 19% on Wednesday, reaching an intraday high of ₹228. This marks the biggest intraday gain for the stock since November 2022, breaking a two-day losing streak.
Key Highlights:
- Monthly Performance: Following Wednesday’s surge, Nykaa’s shares have turned positive for August, now up by 12.5%. This represents the best monthly performance for the stock in 2024. The stock had previously gained 9.4% in July and 7.5% in June.
- 2024 Gains: The rise has brought Nykaa’s year-to-date gain to 27%, reflecting strong investor confidence in the company’s future prospects.
- Current Trading: Although shares have retreated slightly from the day’s high, they are still trading with a robust gain of over 11% at ₹214.00. Adjusted for the 5:1 bonus, the stock is comfortably above its IPO price of ₹187.5.
TOPICS:
Nykaa