Nykaa Share Price: Bonus Shares announcement could not stop the fall, the price has broken 53% from record high – Nykaa share price hits lowest level since listing in last November 2021 stock slips 53 percent from record high

Nykaa Share Price: Shares of Fsn E-Commerce Ventures Ltd, which owns the beauty and wellness brand Nykaa brand, have slipped to a record low. Last Friday, the market was bullish, but due to selling in shares in Nykaa, the prices fell by 1 per cent. After listing last year, it slipped to a record low of Rs 1,198.55 on Friday. However, after that it recovered a bit and at the end of the day closed at a price of Rs 1206.90. However, this too is a record low closing price.

Shares of Nykaa have lost nearly five per cent in the last five trading days, while the Sensex has gained about one per cent in the same period. Talking about Friday, the Sensex was up 1.20 per cent, while the shares of FSN E-commerce lost 0.81 per cent. Shares of Nykaa have lost more than 34 per cent in the last six months, while the Sensex has gained more than one per cent during this period.

Prices have broken 53% from record highs

The listing of shares of FSN E-Commerce Ventures took place on 10 November 2021. The IPO had closed at Rs 2206.70 against the issue price of Rs 1125, ie the IPO investors got huge listing gains. Even after that, its momentum did not stop and on 26 November 2021, it reached a price of Rs 2574, which is its record high price. The rise of Nyka’s shares stopped here and then from there till now it has broken down to a price of Rs 1206.85. It is at a discount of about 53 per cent from the record high price but at a premium of 7 per cent over the issue price.

Details about the company

FSN E-Commerce Ventures (Nayaka) sells beauty, personal care and fashion products. It also sells products through its own brand name Nykaa. Talking about the financial health, according to the details given on the BSE website, the first quarter of the current financial year 2022-23 was not great for the company. The company’s net profit was Rs 48.66 crore in January-March 2022, which fell to Rs 9.05 crore in the next quarter April-June 2022. On the other hand, in terms of revenue, it also declined to Rs 37.65 crore from Rs 49.91 crore in the same period.

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Even the announcement of bonus shares could not stop the fall.

The company had announced to issue bonus shares to the shareholders in the ratio of 5:1. The proposal was approved on October 3 and the record date for this has been fixed as November 3, 2022. However, even this announcement of the company could not stop the sell-off and since then it has lost about 8 per cent.

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