Share price of Nykaa parent, FSN E-commerce Ventures jumped nearly 7%, OR from 8.50 132.70 A day later the company announced the appointment of P Ganesh as its Chief Financial Officer.
Ganesha is one Arvind Agarwal’s successor Who resigned in November last year.
The stock opened with a slight gain 125.50 vs previous close continued to reach higher levels of 124.75 and 134.20, but posted some profits afterwards.
The company’s share price has been in the news for attracting criticism from investors over its IPO valuation since its listing as pre-IPO investors sold off stakes following the expiry of the mandatory lock-in.
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The stock declined for eight consecutive sessions through January 24. Nykaa shares closed on Monday declined 1.96% at 124.75 on the BSE.
The company’s share price hit a 52-week low 120.75 and 52-week high on Jan 23, 2023 332.30 on Jan 24, 2022.
Nykaa is yet to announce its third quarter results for FY23. In Q2FY23, the company registered a multi-fold increase in its consolidated net profit 5 crores as compared to 1 crore in the same period a year ago.
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