Falguni Nayar Loses $1 B In Two Weeks
FSN E-Commerce parent company of Nykaa witnesses a $1 billion loss in two weeks. It plans to announce its quarterly financial results on 1 November 2022
Falguni Nayar is India's richest self-made women billionaire with a net worth of more than $4 billion. After the continuous decline in Nykaa’s share, the estimates are of a loss of $1 billion. According to the Forbes Billionaires List. In about one month, Nykaa’s shares have plummeted from Rs 1,376 apiece on the BSE to Rs 983.55 on Friday, a fall of about 28 per cent.
FSN Ecommerce parent company of Nykaa saw a down of over 30 per cent in the last two weeks and has hit a new 52-week low of Rs 975.5. However, in the last year on listing day nearly doubled its value in the starting is now down about 62 per cent from its 52-week high at Rs 2,574.
The stock has been under selling pressure and lost its status of an exceptional star performer in the newly listed tech stocks, ahead of the expiry of the mandatory one-year lock-in period for pre-IPO investors. Nykaa is scheduled to announce its September 2022 quarter financial results on November 1.
