Nykaa Share Price: 11% Gain After Bonus Announcement, Is It Too Late To Invest?

Beauty and wellness brand Nykaa’s share price jumped nearly 11% intraday on Oct 3, reaching an intraday high of INR 1,411 (BSE) in early trade on Monday before prices pared gains.

Nykaa share prices were reacting to news of the firm announcing bonus shares for its eligible shareholders.

Nykaa bonus shares announcement hit the wire recently, promising bonus shares in the ratio 5:1. However, Nykaa share prices are still down by nearly 40% year-to-date.

Is It Too Late to Invest in Nykaa Shares?

The Nykaa share price reached a record high at INR 2,574. However, stock is currently moving downward and  has dropped to a low of INR 1,208.40

Nykaa recently partnered with Indian Institute of Management, Ahmedabad, to establish a research chair in consumer technology.

Additionally, Nykaa launched its first flagship store in New Delhi.

The firm seems to be adding on fundamentals, but Nykaa share prices remained unbothered.

However, given that the year end is usually a time of several festivals in the country, Nykaa is likely to record increased sales.

The sale boost might translate into an increase in Nykaa share prices.