India's Nykaa up after quarterly profit nearly doubles

Fsn E-Commerce Ventures

07/02/2024 04:48

** Shares of Nykaa parent FSN E-Commerce Ventures  FSNE.NS 
up as much 5.9% at 170 rupees, its biggest pct rise since Jan.
9, before trimming gains to last trade 1.1% higher
    ** Beauty products retailer's Q3 profit rises 97%, rev up
22.3%
    ** Co also approves 1.5 billion rupees investment in Nykaa
Fashion
    ** More than 11.7 mln shares traded, 1.3x the 30-day avg
    ** Avg rating of 22 analysts covering the stock is "Buy;"
their median PT is 185 rupees - LSEG
    ** Stock rose 12% in 2023

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))