Nykaa shares: Morgan Stanley invests ₹153 crore in FSN E-Commerce Ventures

Market


Nykaa shares: After hitting 52-week low of 162.50 on Thursday session, FSN E-Commerce Ventures Ltd has been continuously attracting buying interest by FIIs. Latest FII to invest in this fashion stock is Morgan Stanley. In a bulk deal executed on 11th November 2022, Morgan Stanley Asia (Singapore) has bought 8,213,050 Nykaa shares paying 186.40 apiece. This means, Morgan Stanley Asia (Singapore) has bought Nykaa shares worth 1,53,09,12,520 or 153 crore. In other words, we can say that Morgan Stanley Asia (Singapore) has invested 153 crore in FSN E-Commerce Ventures Ltd.

On 10th November 2022, Norway’s Norges Bank on account of Government Petroleum Fund bought 3,981,350 Nykaa shares at 173.35 per share price. This means Norges Bank has invested 69,01,67,022.5 or 69 crore. On 10th November 2022, another FII Aberdeen Standard Asia Focus PLC bought 4,272,334 Nykaa shares paying 173.18 apiece. This means Aberdeen Standard Asia Focus PLC invested 73,98,82,802.12 or around 74 crore. This means in last two days, three FIIs of big repute have bought Nykaa shares worth of 290 crore.

Nykaa bonus shares 2022

Nykaa shares are one of the bonus paying shares in November 2022 as the fashion company board announced bonus shares in the ratio of 5:1. Nykaa fixed 11th November 2022 as record date for issuance of bonus shares. In October 2022, Nykaa had announced bonus shares in 5:1 ratio, fixing record date on 3rd November 2022. But later on, the company revised its bonus share record date to 11th November 2022. Its one year lock-in period for anchor investors ended on 10th November 2022, the day when stock traded ex-bonus on Indian bourses.

Nykaa share price: Should you buy?

Asked about Nykaa share price outlook, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, “The stock has formed a piercing line candlestick pattern and a double bottom formation on the daily chart, which is confirming the bottom formation of the stock. It is trading above its all-important moving averages with higher highs and higher lows. On the upside, 240 is the immediate horizontal resistance; above this, we can expect 280+ levels in the near term. On the downside, a cluster of moving averages forms the base at around 185.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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