Nykaa partners with L’Oréal’s BOLD to invest in Indian beauty startups, shares flat
SBI Securities termed the development “positive in medium to long term” for FSN E-Commerce Ventures.
The stock of FSN E-Commerce Ventures, trading under the symbol NYKAA, remained largely unchanged on Friday morning, with a marginal increase of 0.06 per cent to ₹335.50. The trading day saw the share price fluctuate between ₹331.60 and ₹336.70, with buy orders representing 55.98 per cent of the order flow, slightly surpassing the 44.02 per cent of sell pressure.
The collaboration between Nykaa and L'Oréal's BOLD, the corporate venture capital fund, aimed to co-invest in promising Indian beauty and personal care startups. Industry experts viewed this development as promising for the medium to long term. FSN E-Commerce Ventures has delivered impressive returns, up 41.88 per cent over the past year and 26.25 per cent year-to-date, outperforming major market benchmarks.
The company's market capitalization is estimated at around ₹96,097 crore, with a price-to-earnings ratio of 370.48, indicating a high valuation.
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