Nykaa shares rally 5% as brokerages turn more bullish post Q1 results. Should you buy, sell or hold?
Shares of FSN E-Commerce, which operates the Nykaa brand, climbed as much as 5.4% on Wednesday to Rs 215.95 on the BSE after brokerages reaffirmed bullish views and raised price targets following the company’s first-quarter results.
Nuvama maintained its Buy rating on Nykaa with a target price of Rs 235, implying a 15% upside from the stock’s last traded price. The brokerage said market share gains remain a strategic priority, with strong momentum in the Beauty & Personal Care segment and improving growth in Fashion.
