Nykaa surges 19% on heavy volumes; stock at highest level since Oct 2022

Shares of FSN E-Commerce Ventures, the operator of beauty and personal care (BPC) brand Nykaa, hit a two-year high of Rs 228.5, surging 18.6 per cent on the BSE during Wednesday’s intraday trade, driven by heavy volumes. The stock was trading at its highest level since October 3, 2022, and recorded its sharpest intraday rally since November 11, 2022, when it soared nearly 20 per cent.

Nykaa settled 9.4 per cent higher at Rs 210.75, compared to a 0.13 per cent gainer in the BSE Sensex. The average trading volumes at the counter jumped over tenfold, with a combined 112.19 million equity shares — representing 3.8 per cent of Nykaa’s total equity — changing hands on the National Stock Exchange and BSE. The stock had previously hit a record high of Rs 429 on November 26, 2021.