Trend retailer FSN E-Commerce Ventures, the guardian firm of Nykaa, has once more come underneath intense promoting stress whilst analysts sounded optimistic concerning the prospect of the inventory.
After shedding over 9 per cent on Tuesday, the inventory opened at Rs 190 in opposition to its earlier shut of Rs 190, however went down instantly to Rs 183 degree.
Investor sentiment took a beating as one other investor has bought shares in an open market transaction since November 10 when the lock-in interval for pre-IPO buyers expired.
In line with NSE information, Segantii India Mauritius has bought over 33 lakh shares in an open market transaction on Tuesday at a value of just a little over Rs 199.24.
In the meantime, Hermes Funding Funds has purchased over 25 lakh shares of Nyakaa at a value of 198.48 in separate open market transactions.
Because the lock-in expiry, there have been a number of bulk offers in Nykaa.
Nykaa’s inventory has come underneath heavy unload because the lock-in has expired and the sentiment was hit additional as Segantii India has bought 33 lakh shares of FSN E-Commerce Ventures (Nykaa) for Rs 67 crore, mentioned Rahul Sharma, Analysis Head at Fairness 99.
“Within the coming days the share may bounce again as a result of its distinctive enterprise mannequin which resulted in strong Q2 earnings. The corporate has the ability to not solely break-even however flip money-making on a long-term foundation,” he mentioned.
One other new-age inventory PB Fintech, which runs the insurance coverage market PolicyBazaar, additionally has to bear the brunt of promoting. The restrictions on pre-investors in Policybazaar additionally expired on November 10.
Policybaazar buying and selling at 379.45, decrease by 2.29 per cent from its earlier shut. Its present degree is a far cry from its 52-week excessive of 1,470.
“PB Fintech, like different new-age IPOs, has been an enormous wealth destructor since its preliminary public supply (IPO) in November final 12 months,” Sharma mentioned.
The inventory has corrected virtually 60 per cent post-IPO and plenty of PE buyers may promote their holding as the corporate has not been in a position to ship any revenue, he added.
Ventura capital agency Tiger World has already bought part of its stake in Policybazaar.