Shares of cosmetics and beauty e-tailer Nykaa, owned by FSN E-Commerce Ventures Ltd., gained the most in 10 weeks after a couple of large trades.
Earlier in the day, about 16 lakh and 37.4 lakh shares changed hands in bunched trades at 9:30 and 10:30 am, respectively.
The board of directors also announced the appointment of P. Ganesh as the chief financial officer of the company, effective Feb. 3.
Shares rose 6.93%, as of 12:33 p.m., to Rs 133.4 apiece. The stock gained as much as 7.66% intraday, the most in over 10 weeks since Nov. 11, 2022. Total traded volume stood at 5.4 times its 30-day average.
Out of the 20 analysts tracking the company, 15 maintain a 'buy' rating, three recommend a 'hold,' and two suggest 'sell' on the stock, according to Bloomberg data. The 12-month consensus price target implies a downside of 127.9%.
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