Nykaa shares slip after 0.9% equity changes hands via block deals; Lexdale International likely seller
At 10:40 am, the stock traded 1.3 per cent lower at Rs 191.20 apiece on the bourse, trading with heavy volumes. As many as 2.77 crore Nykaa shares hands for the day so far, as against a daily average of 6.60 lakh in the past two weeks.
Shares of FSN E-Commerce Ventures, the parent company of cosmetics-to-fashion retailer Nykaa, weakened on Friday, halting a six-day winning run, after multiple block deals wherein 2.64 crore shares (0.9 per cent of the company’s equity) changed hands. Nykaa shares declined by as much as Rs 4.9, or 2.5 per cent, to Rs 188.8 apiece on BSE.
At 10:40 am, the stock traded 1.3 per cent lower at Rs 191.20 apiece on the bourse, trading with heavy volumes. As many as 2.77 crore Nykaa shares hands for the day so far, as against a daily average of 6.60 lakh in the past two weeks.
Earlier, Zee Business reported that Lexdale International was expected to be the likely seller, offloading up to 2.62 crore shares at Rs 187.8 per share amounting to Rs 490 crore.
Also read: Zomato, Nykaa, Paytm, other new-age stocks gained traction in 2023; what lies ahead?
Nykaa is yet to announce the date for releasing its financial results for the December period.
How Nykaa fared in Q2
For the fiscal second quarter, Nykaa reported a 50.28 percent jump in consolidated net profit to Rs 7.80 crore as against Rs 5.19 crore for the corresponding period a year ago.
Its quarterly revenue from operations grew 22.4 per cent to Rs 1,507 crore.
Nykaa reported Rs 80.6 crore in earnings before interest, tax, depreciation, and amortisation (EBITDA), an increase of 32 per cent on a year-on-year basis.
Its EBITDA margin improved by 38 basis points (bps) to 5.4 per cent for the September quarter.
Read more on Nykaa Q2 earnings
Nykaa share price: Past performance
Nykaa shares have gained over 27 per cent in the past year, outperforming headline index Nifty50's rise of 22 per cent.
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