Nykaa Share Price: The magic of bonus shares has gone, today the company’s shares jumped 20 percent


Highlights

The lock-in period for anchor investors ended yesterday.
There was a possibility of heavy selling of shares at the end of the lock-in period.
The company had about 67 percent shares in the lock-in.

New Delhi. The shares of fashion retailer Nyka’s parent company FSN-Commerce Ventures (Nykaa Share Price Today) have seen a tremendous rise today. In Indraday, this stock jumped about 20 percent on BSE and touched the level of Rs 224.65. The company had announced to give bonus shares to stop the sale of shares after the one-year lock-in period is over. This strategy of Nyka worked and today there is a huge jump in the stocks on the day of record date for bonus shares. The shares of Nykaa were listed on November 10 last year.

Moneycontrol As per a report in PTI, yesterday was Nykaa’s X-Bonus day. Yesterday, foreign investors made good purchases of the company’s shares. Seganti India Mauritius, Norgus Bank and Aberdeen Standard Asia Focus bought 2.53 per cent stake in the company. The stock got strong support from the purchase of foreign investors. Nykaa’s stock is still trading 38 percent below its record high. Today this stock was trading at Rs 214.80 with a gain of 14.29 per cent on the BSE till the time of writing the news.

Also read- Stock Market Opening: Sensex jumps 952 points, bumper jump is visible in these stocks

Hence the bonus shares given
The shares of Nykaa were listed on November 10 last year. Anchor investors to whom shares were issued before the IPO could not sell the shares till November 10 this year. There were about 67 per cent of the shares in the lock-in. His lock-in period was over yesterday only. The company feared that there would be heavy selling as soon as the lock-in period is over. To stop this selling, it was announced to give bonus shares. The company management had announced to give bonus shares in the ratio of 5:1 and its ex-date was kept on 10th November i.e. the day of the end of the lock-in period.

Foreign investors bought at this price
Seganti India Mauritius bought 37.92 lakh shares at an average price of Rs 171.75 on the ex-bonus date. At the same time, Norgus Bank of Norway acquired 39.81 lakh shares for Government Petroleum Fund at an average price of Rs 173.35, while Aberdeen Standard Asia Focus bought 42.72 lakh shares at an average price of Rs 173.18. Foreign investors have bought some shares in this from investors whose shares were in the locked-in period of one year. Ambuja Cement founder Narottam S Sekhsaria has sold 1.47 crore shares or 3.11 percent of the shares at a price of Rs 173.7.

Tags: business news in hindi, Money Making Tips, Share market, Shares, stock market



Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

There will never be a recession in this business Multibagger Stock: Pharma company made 63 thousand to 1 crore ICICI Prudential Life Insurance has launched ‘ICICI Pru Sukh Samruddhi’ What is Multi-Member Travel Insurance ? Fixed and Floating Rate, which is more beneficial