Anand Rathi, a prominent brokerage firm, has initiated new coverage on the shares of e-commerce platform Nykaa. The firm has recommended a 'Buy' rating for the stock, setting a target price of Rs. 400.
Following its stock market listing, Nykaa experienced slower growth during its initial two years. The company also faced challenges due to margin pressures within its fashion segment.
However, Nykaa demonstrated recovery in the 2026 fiscal year. During this period, the company achieved a record revenue of $1 billion, which translates to over Rs. 8,300 crore, indicating a strong financial position.
Anand Rathi suggests that investors consider purchasing Nykaa shares as part of a long-term investment strategy. The firm expressed confidence in the e-commerce giant's future growth prospects.
