Nykaa shares climb over 4% amid block deal
FSN E-Commerce Ventures, which runs Nykaa, climbed over 4% to Rs 140.3 in Tuesday's intraday trade on BSE amid reports of a block deal executed on the counter.
As per reports, 60.2 lakh equity shares changed hands in a block deal. The buyers and sellers in the deal are not known.
As per the shareholding data available with the exchanges, a 52.28% stake in the firm is held by the promoter and promoter group, while the rest lies with the public as of June 30, 2023.
At 12.40 pm, the scrip was trading 2.3% higher at Rs 137.9 over its last day's closing price of Rs 134.7 apiece.
However, on a year-to-date basis, the stock has fallen over 11%, while it has also plunged 40% in the last one year.
In Q1 FY24, Nykaa reported an 8% YoY growth in its consolidated net profit at Rs 5.4 crore. Net profit was Rs 5 crore in the year-ago period.
Revenue from operations during the first quarter rose 24% to Rs 1,422 crore, as against Rs 1,148 crore in the same quarter of last year.
The company reported an EBITDA growth of 60% YoY to Rs 73.5 crore in the first quarter, with EBITDA margins expanding 116 basis points to 5.2%. The overall gross merchandise value (GMV) for the quarter rose 24% YoY to Rs 2,668 crore.
As per Trendlyne data, the average target price of the stock is Rs 168, which shows an upside potential of 23% from the current market prices.
The consensus recommendation from 21 analysts for the stock is a 'Hold'.
Technically, the stock's day RSI (14) is at 43.2. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed.
