Nykaa shares may climb more than 45%, target up to Rs 1780

Shares of Nykaa have seen a sharp decline in the past few months. The company’s shares have fallen more than 56%. Shares of Nykaa went down from its issue of Rs 1125 on October 25, 2022 and closed at Rs 1110.60 level. Even after this fall, market experts are bullish on the shares of Nykaa. He says that the company’s shares can rise by more than 45% from the current level. The 52-week high of Nykaa’s shares is Rs 2574.

Nomura said, the stock may double in 5 years
The brokerage houses have given an average target price of Rs 1664 for the shares of Nykaa. That is, the company’s shares can rise by more than 45%. Global brokerage firm Nomura has recently started coverage of Nykaa shares and has given a target price of Rs 1365 for the company’s shares. Nomura says the risk-reward is favorable for long-term investors. The company’s shares may double in the next 5 years. Nykaa’s parent company is FSN E-Commerce Ventures.

Nyka shares with buy rating target Rs 1780
Domestic brokerage house JM Financial has given buy rating to the shares of Nykaa and has given a target of Rs 1780 for the shares of the company. 11 out of 17 analysts covering Nykaa stock gave buy rating to the company’s shares. This has been said in a report by Economic Times. There was a tremendous listing of Nyka’s shares in the stock market. The company’s shares had nearly doubled on the day of listing in November last year. The 52-week low of Nykaa shares is Rs 1107.20.