India's Nykaa rises on upbeat Q3 sales growth expectations

Fsn E-Commerce Ventures

08/01/2024 08:58

** Shares of FSN E-Commerce Ventures  FSNE.NS , parent co of
cosmetics-to-fashion retailer Nykaa, rise as much as 5% to 182
rupees
    ** FSNE on Sunday said its beauty and personal care
vertical's gross merchandise value (GMV) growth for Q3 is
expected to be in mid-twenties, and net sales value (NSV) growth
around 20% on a YoY basis
    ** Fashion vertical's GMV for Q3 expected to grow about 40%,
with NSV growth expected in low thirties on YoY basis
    ** Stock last up 2.6% at 177.95 rupees 
    ** Average analyst rating at "buy"; median PT is 173 rupees
- LSEG Data
    ** Stock gained ~12.3% in 2023 and ~13.5% in December qtr,
its second highest quarterly gain since listing in November 2021


 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))