India's Nykaa surges on Q4 update

Fsn E-Commerce Ventures

08/04/2024 06:20

** Shares of Nykaa parent FSN E-Commerce Ventures  FSNE.NS 
up ~3%, trimming some gains after rising as much as 5.5% 
    ** The beauty products retailer expects Y/Y growth as
percentage in the high twenties for Q4FY24 net sales value (NSV)
and revenue
    ** Adds, witnessed strong growth momentum and customer
demand in the qtr 
    ** Over 8.1 mln shares change hands, 1.8x the 30-day avg 
    ** Analysts' avg rating on stock is "Buy", their median PT
is 183.5 rupees - a ~9% premium on last close - LSEG
    ** Including session's gains, stock down 0.3%  


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))