Nykaa’s ex-date for bonus issuance in a 5:1 ratio is set for November 10. Should you buy the stock?
FSN E-Commerce Ventures aka Nykaa will be the focus of this week’s trading session as the stock goes ex-bonus on November 10 ahead of the record date. Last week, Nykaa received board approval to issue free shares in a 5:1 ratio. The company announced its Q2FY23 results, under which it recorded strong growth in profitability and revenue. JM Financial offered to buy Nykaa shares with a target price of ₹1,680 each. Currently, Nykaa shares are around ₹1,100 levels on Dalal Street.