HomeLifestyleWhy Nykaa's stock continued to sell? Stock price at all time...

Why Nykaa’s stock continued to sell? Stock price at all time low, what should investors do now?

Highlights

On Friday, the stock fell by more than 6 percent.
The lock-in period of Nykaa’s pre-IPO investor is set to end on November 10.
The brokerage house has given big targets of 1365 and 1780 on the stock.

Mumbai. Nykaa’s shares have gone below Rs 1,000 for the first time today. In the last trading session on Friday, this stock saw a fall of more than 6 percent. The stock closed at Rs 983.55 on the NSE. There was heavy selling in the stock for the last few days, due to which its price is continuously going down.

The lock-in period of Nykaa’s pre-IPO investor is going to end on November 10. According to the news of Money Control, JM Financial says that about 67 percent or 319 million shares of Nykaa will open on the day of lock-in expiry. Many big investors will be able to sell their shares after the lock-in period is over on November 10.

Multibagger Stock- This stock gave sweet fruit of patience, 4 times money in 3 years

Stocks broken due to selling of big investors
In fact, more than 12 percent of Nykaa’s shareholders are sitting on 100 times returns. Hence some market analysts say that such investors can sell their positions in Nykaa to lighten their positions so that the portfolio can be diversified. At the same time, foreign investors are already selling this share in the stock.

Although most analysts believe that this selloff in Nykaa has happened suddenly, but the long-term story of the company is strong. This stock will give excellent returns going forward. Those people who already own shares of Nykaa can buy more stocks and do price average. At the same time, new investors should also start buying in this stock.

Brokerage house gave big targets
Nomura analyst Kapil Singh says that Nykaa sees better growth prospects going forward. The brokerage house has given a target of Rs 1365 in Nykaa stock for long term. This stock can see an increase of 40 percent from the current price.

At the same time, brokerage house JM Financial has given a target of Rs 1,780 on this stock with Buy rating. The brokerage house believes that this target will be achieved by September next year. This stock should be bought with a long-term perspective in case of any downside in the short term.

Tags: business news, stock market

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