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Nykaa shares surge 3% as strong outlook and growth strategy excites analysts

Nykaa shares surge 3% as strong outlook and growth strategy excites analysts

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Nykaa share price: Shares of Nykaa, run by FSN E-Commerce Ventures, rose as much as 3 percent on Friday as the company’s strong outlook and growth strategy excited analysts.

Nykaa shares surge 3% as strong outlook and growth strategy excites analysts
Shares of Nykaa, run by FSN E-Commerce Ventures, rose as much as 3 percent on Friday as the company’s strong outlook and growth strategy excited analysts.
At 9:24 am, shares of the beauty product retailer were trading 1.1 percent higher at Rs 1,443.95 on the BSE. The stock made its market debut in November last year.
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Jefferies is bullish on the firm as it believes the growth outlook is strong across verticals. It also noted that the company is focused on growth alongside financial discipline.
Jefferies highlighted that the company adhered to "strong disclosures since listing", something that other retailers avoid doing citing "competitive reasons".
Brokerage firmRatingTarget price
JefferiesBuy₹1,650
Morgan StanleyOverweight₹1,845
While Jefferies has a buy rating, Morgan Stanley is overweight on the stock.
According to Morgan Stanley, the growth trajectory for the fashion business is likely to be similar to that for the beauty and personal care business.
Morgan Stanley has re-iterated the management’s commitment to a measured approach to growth while noting the company’s aim to improve conversion rates and repeat customer rates.
In the March quarter, the beauty retailer clocked strong customer additions and revenue growth despite a decline in its net profit by more than half.
The company plans to grow further by expanding its physical store network and strengthening its omnichannel model. Nykaa is also focussing on expanding into lifestyle adjacencies and launching new channels while investing in its owned brand portfolio.
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