Nykaa Shares Surge Over 7% As Harindarpal Singh Banga Looks to Sell Shares Worth ₹809 Crore
According to reports, Harindarpal Singh Banga and wife Indra Banga plan to sell a 1.4 per cent share worth Rs 809 crore on Friday, August 23, via block agreements.
Representative image |
Nykaa recently made it to the news as reports emerged that Harindarpal Singh Banga of The Caravel Group is looking to sell 1.4 per cent, or shares worth Rs 809 crore, in the beauty and brands company.
Banga Looks To Sell Stakes
The Indian markets appear to have welcomed this development with open hands, as the company shares started trading on the last trading session of this week on a positive note.
The progress of the shares only expanded further, with gains increasing in magnitude. The share prices even crossed an impressive 7 per cent margin of gain.
According to reports, Harindarpal Singh Banga and wife Indra Banga plan to sell a 1.4 per cent share worth Rs 809 crore on Friday, August 23, via block agreements.
Nykaa Shares Jump Again
The Bangas, who were one of the early investors in the Mumbai-based company, intend to sell 4.09 crore shares at a floor price of Rs 198 per, a 5.9 per cent discount from Thursday's closing price of Rs 210.
Coming back to the company shares, the Falguni Nayar-led company's performance at Dalal Street in the recent past has been noticeable.
The company has made gains in the range of 15.08 per cent, in just the past 5 days.
On Friday, August 23, at 11:31 IST, the company shares zoomed 7.20 per cent or Rs 15.16, taking the overall value of the shares to Rs 225.58 per share.
Q1 Results
In the quarterly results declared through an exchange filing, the company posted a net profit of Rs 13.6 crore. This reported net profit is greater than the figure accrued in the quarter before that or in Q4 of FY24.
In the quarter right before Q1, the company posted a net profit of Rs 9.06 crore. This marked a 50 per cent jump in quarter-to-quarter performance.
RECENT STORIES
-
-
-
-
-