The July-September quarter (Q2) business update on revenue by FSN E-Commerce Ventures (Nykaa) was well received by most investors and the share price surged over 6 per cent, driven by one block deal. Even after Wednesday's minor dip, it was still higher at Rs 257.50 as compared to Monday's close of Rs 255.55.
'Spending by the middle class is limited with a focus on savings. However, there is buoyancy at the top-end.'
Brokerages have maintained their ratings and target prices on FSN E-Commerce Ventures, the parent company of Nykaa, after the fashion and beauty online retailer posted in-line numbers during the October-December quarter (Q3) of financial year 2023-24 (FY24). They have, however, cut earnings before interest, tax, depreciation, and amortisation (Ebitda) estimates after weak demand weighed across line items in Q3. "While revenue growth was healthy at 22 per cent year-on-year (Y-o-Y), gross margins declined 90 basis points (bps), weighed by higher discounting in own brands and lower ad income.
In the April-June quarter (Q1) of 2023-24 (FY24), growth in sales of FSN E-Commerce Ventures (the parent company of Nykaa) decelerated to 24 per cent year-on-year (Y-o-Y), and 9 per cent quarter-on-quarter (Q-o-Q), compared with 34 per cent in the previous quarter, due to a decline in the beauty & personal care (BPC) and fashion division's gross merchandise value (GMV). But Nykaa claimed it gained market share in both divisions. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin of 5.2 per cent expanded 120 basis points (bps) from a year earlier.
As 2014 draws to a close, microblogging and social networking platform Tumblr has released its list of the most reblogged models on its website.
FMCG distributors on Thursday said it has suspended their boycott of certain products of oral care maker Colgate after talks with the company representatives over the issue of the price disparity between the traditional distributors and organised business-to-business channel. A day after a virtual meeting with Colgate-Palmolive (India) Ltd (CPIL) representatives, the All India Consumer Products Distributors Federation (AICPDF) called off its stir to boycott certain products of the company starting from January 1, 2022. "From today, the movement against Colgate is postponed till further notice," the AICPDF said in a statement.
Celebrity yogini and wellness entrepreneur Ira Trivedi tells you how to protect your skin and hair from harmful chemicals in the most natural way.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
Add these protein- and vitamin-rich foods to your daily diet.
With an eye on the semi-final spot, Team India will be eyeing another commanding performance when they meet an out-of-sorts Bangladesh in their third Group league match of the ICC World Twenty20 in Mirpur on Friday.
Govt Engineering College, Ajmer invites applications for M Tech. Programmes.
The Gujarat-based fishing trawler, allegedly used by terrorists to enter Indian waters for carrying out the November 26 terror strikes, has been returned to its owner by the police after a local court in Mumbai granted permission. The police had said that they had no objection to the boat being returned, Additional Public Prosecutor E B Dhamal said.
Mohammed Ajmal Amir Kasab, the lone Mumbai carnage terrorist arrested, was today remanded in police custody till January 19 by a magistrate's court for his role in the shootout at the Cama and Albless Hospital in south Mumbai.
The must read list of tools for a healthier home.
Cyber criminals are targeting enterprises and consumers based in tier-III cities. Internet bots (derived from the word web robots) are software applications that run automated tasks over the Internet. They are used for both commercial as well as malicious purposes.
They beat Tollygunge Agragami 3-2 in their concluding match of the NFL.\n\n
They wasted chances galore and were held goalless by ITI in an NFL match.
A 3-2 victory kept the IFA Shield winners on top of the National Football League.
Sikka ranks 35th in the list.
Pushing people to litigation is a major source of tax uncertainty.
The Kochi-Muziris Biennale has put Kerala on the art tourism circuit, says Kishore Singh.
Shashi Tharoor says the British Museum should change its name to Chor Bazaar because whatever it has within its portals is the result of 200 years of theft. The museum is once again in the eye of a storm for the possession of a statue of a god Hindus, across the world, worship as the Supreme Being.
The list is based on what the employees of these companies experienced over the past twelve months.
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
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