Nykaa Shares Fall After Large Trade

Shares of FSN E-commerce Ventures Ltd., the parent firm of Nykaa, declined after a large trade.

As much as 10.4 lakh shares changed hands in at least one large trade, according to Bloomberg data.

Shares of the company closed 4.96% lower at Rs 133.3, compared with a 0.89% increase in the benchmark Nifty 50.

Total traded volume stood at 3.3 times its 30-day average. The relative strength index stood at 26, indicating that the stock might be oversold.

Out of the 20 analysts tracking the company, 14 maintain a 'buy' rating, four recommend a 'hold' and two suggest to 'sell' the stock, according to Bloomberg data. The 12-month consensus price target implies an upside of 128.9%.