There was a huge jump in the shares of beauty and fashion e-commerce company Nykaa today. The share price increased by more than 10% to close to Rs 300. This rise was recorded after strong quarterly results.
The company has given good news regarding its plans to expand its facilities and expand into Tier-2 and 3 cities. There was good growth in sales especially during the festive season.
Market experts say that considering Nykaa’s strong brand position and customer base, this could be a good time for investors. Long term investors see good potential in this.