Block Deal Impact:
On July 10, there was significant activity in FSN E-Commerce Ventures, the parent company of Nykaa, as approximately 1.47 crore shares were traded in two distinct blocks. The details of the buyers and sellers involved in this transaction remained undisclosed by Moneycontrol initially.
Market Reaction:
Following the block deal, Nykaa’s shares initially surged by four percent. However, the stock later relinquished these intraday gains. By 11:30 am, Nykaa was trading at Rs 174.49 on the NSE, indicating a decline of 0.75 percent from the previous day’s closing price.
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Quarterly Business Update:
In its recent quarterly business update, the beauty and fashion platform provided optimistic projections:
Revenue Growth:
The company and its subsidiaries anticipate a robust revenue growth of approximately 22-23 percent year-on-year for the first quarter of FY25.
GMV Growth:
Consolidated Gross Merchandise Value (GMV) is expected to grow in the mid-twenties on a year-on-year basis. GMV represents the total value of merchandise sold over a specified period through customer-to-customer exchange platforms (C2C).
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