Nykaa, the online beauty and fashion store, saw its profits go up by over 50% in the second quarter of FY24, despite a delayed festive season. Revenue also rose by more than 22%.
This news caused Nykaa's stock price to increase by 5%. Over the past five days, the share price has risen by 6.35%. Experts suggest that while there were some challenges in the BPC portfolio, the company is on a good growth path.
They recommend considering a 'Buy' strategy, with a target price of Rs 200. This suggests confidence in Nykaa's future success.