Now Reading: Elara Capital hikes Nykaa target to Rs 475, sees 43% upside
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Elara Capital hikes Nykaa target to Rs 475, sees 43% upside
Elara Capital has reiterated a buy rating on Nykaa (FSN E-Commerce Ventures) and raised its target price to Rs 475 from Rs 400, implying a 43 per cent upside from the current Rs 332.80, reports Businessline. The brokerage expects Nykaas beauty and personal care (BPC) gross merchandise value to grow at a compound annual growth rate of about 25 per cent through FY30.
Nykaas curated premium product range and higher average order values insulate it from quick-commerce disruption, according to the note. Elara projects Nykaas online BPC market share to rise to 32 per cent by FY30 from 27 per cent in FY26. Business Today adds that from a technical perspective, analyst AR Ramachandran of Tips2trades sees near-term upside to Rs 348 if the stock closes above Rs 336 resistance.
Indian Opinion Analysis
Both reports are identical in substance: a Elara Capital buy call on Nykaa with a Rs 475 target. Businessline leads with the target price and justification, Business Today adds a technical analyst comment on near-term resistance. The framing is finance-neutral in both, providing investment house research without editorial slant. The coverage is uniform wire-style reporting. The call targets a 43 per cent upside from the current Rs 332.80, backed by a projected 25 per cent BPC GMV CAGR through FY30.
Coverage: 2 sources, 2 neutral
Sources (2): thehindubusinessline.com (neutral report), businesstoday.in (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Updated: this story now draws on 2 sources.
