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Shares of FSN E-Commerce Ventures Ltd. rose over 3 per cent on Monday after the company said it expects to deliver a revenue growth in the upper end of mid-twenties.
The e-commerce platform's stock rose as much as 3.04 per cent during the day to ₹272.9 per share, the biggest intraday rise since December 30 last year. The FSN E-commerce stock pared gains to trade 1.8 per cent higher at ₹270 apiece, compared to a 0.16 per cent decline in Nifty 50 as of 9:32 AM.
Shares of the company rose to the highest level since November 25 last year and currently trade at 5.3 times the average 30-day trading volume, according to Bloomberg. The counter has risen 63 per cent in the last 12 months, compared to a 11 per cent advance in the benchmark Nifty 50. Nykaa has a total market capitalisation of ₹77,316.77 crore. READ STOCK MARKET UPDATES LIVE
Nykaa Q3 update
Nykaa reported that its consolidated gross merchandise value and net sales value growth expected to be in the late twenties.
The strong showing was driven by a revival in the fashion vertical since the start of the financial year, alongside a consistently robust performance in the beauty segment, the company said. As a result, the company is expected to post consolidated net revenue growth at the upper end of the mid-twenties, marking a slight acceleration from the mid-twenties growth sustained over the past several quarters.
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Nykaa's beauty vertical is expected to deliver net sales value growth in the late twenties, the fastest pace seen over the past six quarters. The growth was recorded in a seasonally strong quarter, making it the largest quarter to date for the company in terms of absolute scale. ALSO READ | Poonawalla Fincorp gains 3% in trade; check what's fuelling NBFC stock
JM Financial on Nykaa Q3
JM Financial noted that the beauty and personal care segment saw a further pickup, with net sales value and revenue growth estimated at 28-30 per cent and 26-27 per cent year-on-year (Y-o-Y), respectively, marginally ahead of its expectations.
Fashion net sales value growth is projected at around 24-26 per cent year-on-year, while revenue growth is likely to be in the late teens. JM Financial expects Ebitda margin to expand by about 130 basis points Y-o-Y, in line with the improvement seen in the second quarter, factoring in these estimates.
It said the third quarter is shaping up to be a decent one, supported by strong seasonality and sustained execution. The brokerage expects the stock's recent outperformance to continue, citing Nykaa as one of the cleanest compounding stories in India. It upped its target price to ₹325 for March 2027 from ₹310 earlier and maintained its 'Buy' rating. ==========
(Disclaimer: The views and investment tips expressed by the brokerage in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.)
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