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The shares of Nykaa, a company of FSN E-Commerce Ventures Ltd, are going through a continuous decline, as a result of which Nykaa’s shares have reached the lowest level. Investors have suffered huge losses due to the shares reaching the lowest level of 52 weeks.
On Wednesday, Nykaa shares were trading at Rs 123, down 6 per cent on the BSE, which is its all-time low. At the same time, this stock is continuously declining for the last few days. In five days, this stock has caused a loss of 19 percent to the investors. This stock has fallen 22 percent in a month.
Parent company sold shares
Goldman Sachs, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance Company and Canada Pension Plan Investment Board bought stake in FSN E-Commerce Ventures in block deals in December. According to media reports, a few days ago, one of them has sold stock worth $26 million at Rs 148.90 per share during a block deal in Nykaa’s parent company.
Nykaa’s shares dropped 67 percent since listing
Nykaa’s shares were listed in the stock market during November 2021, after which its shares have fallen by 67 per cent. With such a huge fall, this stock has joined the list of Paytm, Zomato, PB Fintech and Delivery. These stocks are trading at their lowest level ever since they got listed in the market.
Company’s profit during the quarter
During December 2022, the company released the quarterly results of FY 2023. Nykaa had registered profit during the third quarter. It earned a profit of Rs 5 crore as against Rs 1 lakh in the same period a year ago. The GMV, on the other hand, grew by 45 per cent year-on-year to Rs 2,345.7 crore in the second quarter of FY23.
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