Nykaa board to consider bonus shares proposal on October 3; share price jumps 5 per cent!

The cosmetics-to-fashion retailer has reported a 42.24 per cent YoY rise in net profits at Rs 5 crore for the quarter that ended June 2022.   

FSN E-commerce Ventures subsidiary Nykaa, on September 28, informed the exchanges regarding its board meeting for the proposal of bonus issue and approval from the shareholders. With this news, Nykaa shares opened higher by nearly 5 per cent on September 29.  Currently, Nykaa's share price trades around Rs 1,335 level on NSE.  

Bonus shares are the additional equity shares that the shareholders receive in addition to the existing-owned shares.  

The cosmetics-to-fashion retailer has reported a 42.24 per cent YoY rise in net profits at Rs 5 crore for the quarter that ended June 2022.   

Nykaa made a stellar debut on the exchanges on November 10, 2021, with a premium of over 79 per cent to its issue price. However, the performance of the stock post its listing hasn’t been impressive as it plunged nearly 50 per cent from its all-time high level of Rs 2,573.70 on NSE.   

Nykaa is a new-age business working across manufacturing, selling & distribution of beauty, wellness, fitness, personal care, and health care products on online platforms as well as via physical stores, modern trade, etc.  

Market participants can include this stock on their watchlist to track its performance.