Why FSN E-Commerce Ventures, parent of Nykaa, shares gain 4% in trade?

FSN E-Commerce Ventures, parent company of Nykaa, shares have gained 3.8 per cent in Wednesday’s trade and logged an intraday high at Rs 174.45 per share on BSE. The stock was in demand after the company finished acquisition of Earth Rhythm Private Ltd (ERPL).

Around 10:44 AM, Nykaa’s share price was up 1.28 per cent at Rs 170.15 per share on BSE. In comparison, the BSE Sensex was down 0.07 per cent at 79,948.13. The market capitalisation of the company stood at Rs 48,536.10 crore.