Nykaa Hits 52-Week High By Jumping 10% Intraday; Closes At INR 200

Shares of Nykaa touched an intraday high at INR 202 on the BSE. The stock ended the session 9.3% higher from the previous close

Nykaa shares have been on an uptrend since the beginning of June this year

The startup expects to post a strong revenue growth of around 22-23% year-on-year in Q1 FY25, with gross merchandise value rising in the mid-twenties percentage range

Shares of fashion and beauty ecommerce major Nykaa jumped as much as 10.4% to touch a 52-week high at INR 202 during the intraday trading on the BSE on Tuesday (July 30).

The stock shed some of the gains by the end of the trading session and ended the day 9.3% higher at INR 200. Nykaa shares had last closed at this level in mid-November of 2022, the year it made the stock market debut (adjusted for stock split).

The stock witnessed a significant rise in volume during today’s session, with 6 Cr shares traded cumulatively on the BSE and the NSE.

After seeing some corrections and trading sideways for a while,…