Shares of FSN E-Commerce Ventures (Nykaa) continued to reel under the selling pressure, falling another 5 per cent in to Rs 2,040.60 on the BSE. The stock of fashion and cosmetics online retailers was trading lower for fifth straight day, falling 18 per cent in one week. In comparison, the S&P BSE Sensex was up 2 per cent during the same period.
A sharp decline in the stock price of the company has resulted in the market capitalization of Nykaa fall below Rs 1-trillion mark. In the morning trade, the stock was trading 4 per cent lower at Rs 2,060, with a market capitalization of Rs 97,423 crore, BSE.
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.
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Nykaa had made a strong stock market debut as the shares ended at Rs 2,207, a hefty 96 per cent premium over its issue price of Rs 1,125 per share, on the BSE. The stock has corrected 21 per cent from its high of Rs 2,574 hit on November 26, 2021. The stock hit a low of Rs 1,994.10 on its listing day i.e. November 10, 2021.
Stock Covered in the news
