Commerce News

Buy or sell stocks: Ruchit Jain of 5paisa has recommended two stocks to buy today - Sun Pharmaceutical Industries Ltd and FSN E-Commerce Ventures Ltd (Nykaa).

FSN E-Commerce Ventures Q3 FY24 Results Live: Revenue increased by 22.28% YoY & profit increased by 97.56% YoY

Nykaa reported a net profit of ₹16.2 crore in the quarter ended December 2023, a rise of 98% from ₹8.2 crore in the year-ago period, driven by strong demand during the festival and wedding seasons.

FSN E-Commerce Ventures, the holding firm of Nykaa, experienced an 8.30% spike in its shares during intraday trading today, reaching a fresh 52-week peak of ₹191.60 per share.

FSN E-Commerce Ventures, the parent company of Nykaa, saw its shares surge by 8.30% in today's intraday trade, reaching a new 52-week high of ₹191.60 apiece.

After an almost 56 percent fall in 2022, FSN E-Commerce Ventures, the parent company of Nykaa, has shown signs of a modest rebound, rising over 18% in 2023 YTD. A look at technical and fundamental outlooks.

Nykaa share price surged nearly 5% on Tuesday's trade after the online beauty and fashion retailer posted 50% jump in its consolidated net profit as compared to year-ago period.

Nykaa’s gross merchandise value (GMV) during the quarter under review is likely to grow by 24% YoY led by BPC segment growth estimated at 21% and Fashion segment growth at 25% YoY.

Like Alia Bhatt and Katrina Kaif were a part of Nykaa since the initial days and received excellent returns on the listing of the e-commerce site, Shilpa Shetty may earn significant returns from the Mamaearth IPO.

Many internet stocks have recovered in 2023 after a weak investor response to their initial public offerings. This comes on the back of an improvement in their profitability, a rise in revenues and a fall in expenses in the recent quarters.