BofA believes that Nykaa's beauty and personal care (BPC) segment's margin improvement may lag behind market expectations.
Macquarie has an ‘underperform’ rating on Nykaa's stock whereas Morgan Stanley has an ‘overweight’ recommendation.
The market ended on a new closing high, with the Sensex up 466.95 points at 63,384.58 and Nifty at 18,826, up 137.90 points
The zone of 17,600 –17,800 would be a tough nut to crack since we have a gap area near 17,500–17,600. Traders are advised to book their longs in index near this zone
Agrawal will leave the company and step down from his role on November 25, Nykaa informed stock exchanges.
1.84 crore shares of Nykaa or 0.65 percent of equity changes hands in block deal
Nykaa's lock-in period ended on November 10, allowing promoters and investors to liquidate the pre-IPO securities held by them.
The deal offers a discount of up to two percent on the current market price, CNBC Awaaz reported.
On November 9, almost 67 percent of Nykaa’s shareholding will be released from lock-in, which equals to about 310 million shares
Consolidated net profit stood at Rs 5.2 crore for the quarter ended Sept 30, compared with Rs 1.17 crore a year earlier