Following the announcement of a 5:1 bonus issue, shares of this e-retailer shot up! Do you own it?
On an intraday basis on Monday, the shares of this company soared over 10 per cent to reach the day's high of Rs 1,411.80 per share on BSE.
The Indian benchmark indices tumbled more than a per cent, mirroring the downturn in the global markets. Except BSE Healthcare and BSE Telecommunications, all the sectors were trading lower. The shares of FSN E-Commerce Ventures (Nykaa) impressed investors with its upward trend and over an eight-fold increase in volume in such a weak market.
On an intraday basis on Monday, the shares of FSN E-Commerce Ventures soared over 10 per cent to reach the day's high of Rs 1,411.80 per share on BSE. This took place in line with the company’s announcement of a bonus equity share issue of five fully paid-up equity shares of Re 1 each for every one fully paid-up equity share of Re 1 held by the company's shareholders, as of the record date. The record date for determining members eligible for bonus equity shares will be November 3, 2022.
Indian Institute of Management Ahmedabad (IIMA) recently signed an agreement with Nykaa to establish 'Nykaa Chair in Consumer Technology.' The chair will focus on research & education to promote scientific marketing practice and give insights on the impact of digital, social as well as mobile technologies on company models, customer behaviour, and social developments, in general.
Despite closing the day 2.44 per cent higher on BSE, the shares of FSN E-Commerce Ventures were down by more than 37 per cent year-to-date.
Keep a close eye on this scrip for the upcoming sessions!