FPI buying gives wings to Nykaa shares; surge 20% post persistent sell-off
Shares of FSN E-Commerce Ventures, which owns beauty e-retailer Nykaa, moved higher by 20 per cent to Rs 224.65 on the BSE in Friday’s intra-day trade after foreign portfolio investors (FPIs) acquired stake in the company via open market on Thursday.
On November 10, investor Narotam S Sekhsaria offloaded 14.7 million equity shares of Nykaa at a price of Rs 173.70 via block deals on the BSE, exchange data showed. Aberdeen Standard Asia Focus Plc (4.27 million), and Norges Bank on account of Government T Petroleum Fund (3.98 million) bought a combined 8.25 million shares of the company via block deals, the exchange data shows.
Meanwhile, Mala Gopal Gaonkar sold 4 million equity shares at a price of Rs 172.04 per share via block deals on National Stock Exchange (NSE), while Lighthouse India Fund III Limited offloaded 9.69 million shares at Rs 171.75 per share, the data showed. Of these, Segantii India Mauritius purchased 3.79 million shares of the company. CLICK HERE FOR BLOCK DEALS DATA
Meanwhile, the stock of Nykaa turned ex-bonus for its 5:1 bonus share issue, i.e. five bonus shares for every one share held in the company, on Thursday. The board of the company had fixed November 11, 2022 as the ‘Record Date’ for the purpose of determining the members eligible for bonus equity shares.
At 10:25 am, Nykaa was trading 15 per cent higher at Rs 216.90, as compared to 1.63 per cent rise in the S&P BSE Sensex. A combined 37.98 million equity shares have changed hands on the NSE and BSE so far.
FSN E-Commerce Ventures, more commonly known as Nykaa, is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers through its diverse portfolio of beauty, personal care & fashion products including their own brand products.
Despite of today’s run-up, Nykaa has underperformed the market by falling 8 per cent in the past three months, as compared to 3.8 per cent rise in the S&P BSE Sensex. Further, in the past one year, it has slipped 41 per cent, as against 2.8 per cent gain in the benchmark index. The stock had hit a record low of Rs 162.58 on October 28, 2022, and a record high of Rs 429 on November 26, 2021 (adjusted for bonus issue).
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