Shares of FSN E-Commerce Ventures, the parent company of Nykaa, fell 4% in morning trade on Wednesday, erasing earlier gains that had pushed the stock to a 52-week high.
The decline came despite the company reporting a sharp improvement in its first-quarter fiscal 2027 results.
The e-commerce retailer reported a 226% year-on-year jump in net profit to ₹80 crore for the quarter ended June.
The e-commerce retailer reported a 226% year-on-year jump in net profit to ₹80 crore for the quarter ended June.
Revenue from operations also expanded significantly, rising 29% year-on-year to ₹2,782 crore.
The stock traded at ₹329.25 on the National Stock Exchange of India (NSE) at 10:20 am, having touched a 52-week high earlier in the session before selling pressure emerged.
The price action reflects a classic 'sell the news' dynamic, where traders book profits after positive earnings are priced into the stock.