Nykaa Share Price: Shares of Nykaa (FSN E-Commerce Ventures Limited) saw a huge jump of more than 9 percent on Wednesday amid the ongoing selling environment in the stock market. Shares of Nykaa closed at Rs 1,411 on the NSE on Wednesday, which is 9.27 per cent higher than its Monday closing price of Rs 1291.25.
With this, the market cap of Nykaa on the Bombay Stock Exchange (BSE) increased to Rs 66,280 crore. The stock is trading higher than its last 5 days moving averages but lower than 20 days, 50 days, 100 days and 200 days moving averages.
Nykaa shares touched an all-time high of Rs 2,574 on November 26, 2021. The stock is currently trading at a decline of more than 45 percent from this high.
Shares of new age internet companies like Zomato, Paytm, Nykaa and Policybazaar (PB Fintech) are under heavy selling pressure amid heavy selling on Dalal Street for the past few days.
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“The stock market prices are entirely based on short-term sentiments. Long-term investors should always stick with companies that are debt-free and generating consistent cash flows,” said an expert.
He said, “If the operating cash flow of a company is expected to decrease due to increase in interest rates and they do not have free cash flow, then it would be right to stay away from such companies at this time. We have kept Nykaa also in this category, Even though its share price has jumped today.”
Nykaa’s shares were listed on the stock market last year at a premium of 79 per cent over its issue price. The issue price of Nykaa was Rs 1,125, while its shares were listed on BSE at Rs 2,001. With this great listing, the market cap of Nykaa had crossed Rs 1 lakh crore.
Nykaa is an online beauty e-commerce platform. Nykaa’s net profit declined 58 per cent year-on-year to Rs 29 crore in the December quarter, as against 12 million in the September quarter. Shares of Nykaa have fallen 32.37 per cent so far in the year 2022.
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