Nykaa has seen a steady decline, the expert said, it can be got rid of by selling


Nykaa shares are down 53 percent this year and 56 percent in one year. At the same time, it fell about 60 percent from its all-time high.

Nykaa shares below IPO price: Shares of Fsn E-Commerce Ventures Ltd, the parent company of health and beauty brand Nykaa, fell to a record low today. Shares came in at Rs 975 today, a new low. At the same time, its price was 1125 rupees. Shares closed at Rs 1,049 on Thursday. Shares are down 53 percent this year and 56 percent in one year. At the same time, it fell about 60 percent from its all-time high. The warehouse is currently seeing the same movement as the Zomato food delivery app a few days ago.

The lockdown period ends on November 10th.

There are fears that Nykaa’s pre-IPO investors could have a big sell-off after the 10th of next month. In fact, the blocking period for such investors was November 10th. Anchor investors may sell after the lockdown ends due to some decline in the stock a few days after the listing and the stock trades below the offering price. Due to this trigger, the decline in stocks has increased today. This trend was seen in Zomato earlier as well, and before the lockdown for anchor investors ended, the share price was a quarter of its all-time high.

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get rid of the sale

Swastika Investmart OOO Pravesh Gaur, senior technical analyst, says Nykaa shares have seen a steady decline since breaking through support at 1220. However, given the low price after the fall here, investing in stocks should be avoided. There is no clarity on stocks at the moment, so stay away from them for now. Those who already own shares can reduce their losses by selling them. On the other hand, if you are willing to take the risk, then set a stop loss of 920 rupees.

The stock made a strong entry into the market

Nykaa maintained its share price at Rs 1,125 at its IPO. Whereas, on November 10, 2021, the company’s shares were listed at Rs 2,001 with the market rising. On the listing day, the shares closed at Rs 2,207, up about 96%. That is, on the listing itself, the money of investors in it doubled. At that time, the promoter of the company, Falguni Nayar, was in the spotlight, and her fortune increased significantly. Shares also rose to Rs 2,574. But it has since fallen 60 percent below its IPO price of Rs 975.

(Disclaimer: Expert advice on selling stocks. This is not the personal opinion of The Financial Express. The markets are risky, so listen to the experts before you invest.)


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