Nykaa plunges 36% in 11 days post Q3 results; stock nears issue price

The stock hit a new low of Rs 1,218.80, down 8 per cent in the intra-day trade

Shares of FSN e-Commerce Ventures, the parent company of beauty e-tailer Nykaa, hit a new low of Rs 1,218.80 after it slipped 8 per cent on the BSE in Tuesday's intra-day trade. The stock was inching closer to its issue price of Rs 1,125 per share and has corrected 53 per cent from its record high of Rs 2,574, touched on November 26, 2021. The company had made stock market debut on November 10, 2021.

The stock of the cosmetics-to-fashion retailer has tanked 36 per cent in the past 11 trading days after the company reported a disappointing set