India's Nykaa extends losses after Lexdale stake sale

Fsn E-Commerce Ventures

15/01/2024 06:29

** Shares of Nykaa parent FSN E-Commerce Ventures  FSNE.NS 
extend losses, fall ~2% to 184 rupees
    ** Pre-IPO investor Lexdale International sold 0.9% stake in
the beauty products retailer on Friday, per BSE data after
market hours
    ** Stock fell 3.1% on Friday on reports of the stake sale
    ** Over 3.6 mln shares traded, 0.5x the 30-day avg volume
    ** Avg rating of 22 analysts equivalent of "buy," of which 4
rate it the equivalent of "sell"; median PT is 185 rupees - LSEG
data
    ** Stock rose 12% in 2023


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))