Nykaa could be good bet top brokerages given target 1650 rupee – Business News India

Shares of Nykaa have seen a sharp decline in the last few days. Shares of Nykaa were down 62% from their 52-week high. Here some recovery has been seen in the shares of the

company. The lock-in period for Nykaa shares for pre-IPO investors ends on November 10, 2022. In such a situation, selling can be seen in the shares of Nykaa. However, market

experts are bullish on the shares after Nykaa's Q2 results. Experts say that Nyka's shares can see a good rise. Jefferies gave a target price of Rs 1650 for the sharesNykaa's

consolidated net profit has seen a manifold jump in the July-September 2022 quarter. Nykaa's profit in the September 2022 quarter stood at Rs 5.19 crore. The profit of Nykaa was Rs

1.17 crore in the same period a year ago. Besides, Nykaa's consolidated gross merchandise value (GMV) grew 45% year-on-year to Rs 2345.7 crore in the September quarter of the

current financial year. Foreign brokerage house Jefferies has maintained a buy rating on Nykaa shares and has given a target price of Rs 1,650 for the company's shares. Also read-

Highest profit ever, upper circuit of 20% on bank shares Shares of Nykaa climbed more than 15% in 3 daysBrokerage house and research firm Edelweiss is also bullish on

Nykaa shares after the September 2022 quarter results. Edelweiss has maintained a buy rating on Nykaa and has revised the target share price of the company to Rs 1506. Shares of

Nykaa have gained over 15% in the last three trading sessions. The company's shares had reached its new 52-week low of Rs 975.50 on 28 October 2022. Shares of Nykaa have lost over

33% in the last 6 months. At the same time, Nyka's shares have fallen 45% so far this year. Also read- Company will buy back its shares at ₹ 850 per share, record date announced

Disclaimer: The information given here is only about the performance of the stock, it is not an investment advice. Investing in the stock market is subject to risks and

please consult your advisor before investing.