Nykaa shares: Morgan Stanley invests ₹153 crore in FSN E-Commerce Ventures

Nykaa shares: After hitting 52-week low of ₹162.50 on Thursday session, FSN E-Commerce Ventures Ltd has been continuously attracting buying interest by FIIs. Latest FII to invest in this fashion stock is Morgan Stanley. In a bulk deal executed on 11th November 2022, Morgan Stanley Asia (Singapore) has bought 8,213,050 Nykaa shares paying ₹186.40 apiece. This means, Morgan Stanley Asia (Singapore) has bought Nykaa shares worth ₹1,53,09,12,520 or ₹153 crore. In other words, we can say that Morgan Stanley Asia (Singapore) has invested ₹153 crore in FSN E-Commerce Ventures Ltd.

On 10th November 2022, Norway's Norges Bank on account of Government Petroleum Fund bought 3,981,350 Nykaa shares at ₹173.35 per share price. This means Norges Bank has invested ₹69,01,67,022.5 or ₹69 crore. On 10th November 2022, another FII Aberdeen Standard Asia Focus PLC bought 4,272,334 Nykaa shares paying ₹173.18 apiece. This means Aberdeen Standard Asia Focus PLC invested ₹73,98,82,802.12 or around ₹74 crore. This means in last two days, three FIIs of big repute have bought Nykaa shares worth of ₹290 crore.

Nykaa bonus shares 2022

Nykaa shares are one of the bonus paying shares in November 2022 as the fashion company board announced bonus shares in the ratio of 5:1. Nykaa fixed 11th November 2022 as record date for issuance of bonus shares. In October 2022, Nykaa had announced bonus shares in 5:1 ratio, fixing record date on 3rd November 2022. But later on, the company revised its bonus share record date to 11th November 2022. Its one year lock-in period for anchor investors ended on 10th November 2022, the day when stock traded ex-bonus on Indian bourses.

Nykaa share price: Should you buy?

Asked about Nykaa share price outlook, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, “The stock has formed a piercing line candlestick pattern and a double bottom formation on the daily chart, which is confirming the bottom formation of the stock. It is trading above its all-important moving averages with higher highs and higher lows. On the upside, ₹240 is the immediate horizontal resistance; above this, we can expect ₹280+ levels in the near term. On the downside, a cluster of moving averages forms the base at around ₹185."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.