Nykaa parent shares rise over 5% after 30% sales growth
Business
Nykaa's parent company saw its shares pop over 5% on Monday after reporting solid September quarter numbers, with net sales value up by around 30%.
Even with this growth, Goldman Sachs stuck to a "Neutral" rating and only slightly raised its target price, hinting that the stock might be a bit overvalued right now.
Nykaa adds 14 stores, now 338
Nykaa's beauty and personal care business grew in the high 20s percentage-wise, while fashion jumped even more, in the high 40s.
The company also opened 14 new stores, bringing its total to 338.
Shares are now close to their yearly high and have climbed about 30% this year, but analysts think there may not be much more upside for now.