Nykaa shares crash over 7% on ex-bonus date, block deals - Economic Times

Shares of beauty and fashion e-tailer dropped over 7% on Thursday as the new-age stock started trading ex-bonus and amid block deals following the expiry of the lock-in period for pre-IPO investors.

FSN E-Commerce Ventures, which runs Nykaa, had announced a bonus share issue in the ratio of 5:1, which means that existing shareholders will get five shares for every one share held as on the record date i.e. November 11. As a result, the price of the stock got adjusted today on ex-date.

The stock, which is down over 61% from its 52-week-high, dropped 7.15% to hit the day’s low at Rs 166.85 in intraday trade.

In the meantime, multiple block deals were also reported in Nykaa as the mandatory lock-in period for pre-IPO investors ended today.

Brokerages have, however, remained bullish on the stock. Out of the 17 analysts with coverage on Nykaa, 10 have strong buy ratings, two have buy, three have hold and two have sell calls, shows Trendlyne data.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Nykaa shares crash over 7% on ex-bonus date, block deals - Economic Times
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