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Nykaa investors cheer proposal to issue bonus shares on October 3

Nykaa investors cheer proposal to issue bonus shares on October 3

Nykaa investors cheer proposal to issue bonus shares on October 3
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By Nishtha Pandey  Sept 29, 2022 10:19:50 AM IST (Published)

The parent company of beauty brand Nykaa and fashion retailer Nykaa Fashion in its April-June quarter reported a 42.24 percent increase in consolidated profit at Rs 5.01 crore as compared to the corresponding period a year ago, aided by better topline and operating performance.

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Shares of FSN E-Commerce Ventures, the parent company of e-commerce brand Nykaa, climbed over 3 percent as on September 28 the company informed the stock exchanges in a regulatory filing that a meeting of its board of directors is scheduled for October 3 to consider and approve the issuance of bonus shares to shareholders.
At 9:43 am, shares of FSN E-Commerce Ventures were trading at Rs 1323, up by 3.5 percent from the previous close on the BSE.
Nykaa’s board announced on Wednesday, September 28, that they might seek the shareholders’ approval through a postal ballot and other approvals for the share issue.
Bonus shares are additional shares given to current shareholders with no additional cost based on the number of shares a shareholder owns.
The parent company of beauty brand Nykaa and fashion retailer Nykaa Fashion in its April-June quarter, reported a 42.24 percent increase in consolidated profit at Rs 5.01 crore as compared to the corresponding period a year ago, aided by better topline and operating performance.
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