Nykaa share price jumps about 7% as company appoints a new CFO

Market


The share price of Nykaa parent, FSN E-Commerce Ventures, jumped nearly 7%, or 8.50, to 132.70 a day after the company announced the appointment of P Ganesh as its Chief Financial Officer.

Ganesh is a successor of Arvind Agarwal who resigned in November last year.

The stock opened marginally higher at 125.50 versus previous close of 124.75 and continued to gain to reach a high of 134.20, but pared some gains later.

The company’s share price has been in the news attracting criticism from investors over its’s IPO valuations due to the fall in the stock since its listing.

The stock fell for eight consecutive sessions until January 24. On Monday, Nykaa shares closed at 124.75 apiece down by 1.96% on BSE.

The company’s share price hit a 52-week low of 120.75 on January 23, 2023 and a 52-week high of 332.30 on January 24, 2022.

Nykaa is yet to announce its third-quarter results for FY23. In Q2FY23, the company posted a multi-fold increase in its consolidated net profit at 5 crore as compared to 1 crore in the same period a year ago.


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