UBS Turns Bullish on Nykaa: Here’s Why the Beauty Giant Stands Strong

UBS has promoted Nykaa to a "buy" rating with a target price of ₹200 per share, attributing sustained revenue growth despite competitive pressure. Nykaa's beauty and personal care business continues to deliver well, with a 27% YoY revenue growth. The company has also managed to cut EBITDA losses in its fashion business. With only 30% of order value from the top cities, despite a difficult macro environment, Nykaa has a solid foundation, with quick commerce disruptions being manageable.

 

Sources: CNBC-TV18, Zee Business, Reuters, TradingView