FSN E-Commerce Ventures Ltd Share Price – NSE  /  BSE

E-Commerce/App based Aggregator, Small Cap

FSN E-Commerce Ventures has allotted 2,17,800 equity shares under ESOS on 11 April 2024.

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The key equity indices traded with major gains in mid-afternoon trade. The Nifty marched above the 22,650 mark. Oil & gas shares witnessed buying demand for the second consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, gained 522.42 points or 0.71% to 74,774.26. The Nifty 50 index added 159 points or 0.71% to 22,672.70.

The Sensex and Nifty clocked an all-time high of 74,869.3 and 22,697.30, respectively in afternoon trade. Further, the Nifty Bank index also registered a fresh record high today at 48,716.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.35% and the S&P BSE Small-Cap index added 0.03%.

The market breadth was negative. On the BSE, 1,868 shares rose and 1,977 shares fell. A total of 155 shares were unchanged.

Economy:

India’s foreign exchange reserves increased from $2.951 billion to $645.583 billion for the week ended March 29, according to the latest RBI report. This is the sixth consecutive week of a jump in overall reserves.

For the week ended March 29, the foreign currency assets, a major component of the reserves, increased $2.354 billion to $570.618 billion.

Gold reserves increased $673 million to $52.16 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down $73 million to $18.145 billion.

India’s reserve position with the IMF was also down $2 million to $4.66 billion in the reporting week, the apex bank data showed.

Buzzing Index:

The Nifty Oil & Gas index rose 1.39% to 11,663.50. The index advanced 1.46% in two trading sessions.

GAIL (India) (up 4.33%), Indraprastha Gas (up 2.98%), Mahanagar Gas (up 2.39%), Reliance Industries (up 1.98%), Gujarat Gas (up 1.95%), Indian Oil Corporation (up 1.31%), Gujarat State Petronet (up 1.07%), Petronet LNG (up 0.94%), Oil & Natural Gas Corpn (up 0.63%) and Bharat Petroleum Corporation (up 0.24%) advanced.

On the other hand, Adani Total Gas (down 0.68%), Oil India (down 0.56%) and Hindustan Petroleum Corporation (down 0.4%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.56% to 7.157 as compared with previous close 7.117.

In the foreign exchange market, the rupee is edged higher against the dollar. The partially convertible rupee was hovering at 83.2950, compared with its close of 83.3175 during the previous trading session.

MCX Gold futures for 5 April 2024 settlement rose 0.36% to Rs 70,893.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was added 0.11% to 104.41.

The United States 10-year bond yield rose 1.81% to 4.456.

In the commodities market, Brent crude for May 2024 settlement lost 81 cents or 0.81% to $ 90.37 a barrel.

Stocks in Spotlight:

FSN E-Commerce Ventures (Nykaa) rallied 5.49% after the company witnessed growth accelerate in Q4 FY24 with strong GMV growth of early thirties at a consolidated level, on a YoY basis.

Grasim Industries added 1.77% after the company informed that its B2B e-commerce business unit for building materials Birla Pivot has crossed Rs 1,000 crore revenue-mark in FY24, which is the first year of its operations.

Jindal Stainless shed 0.04%. The company said that the credit rating agency CARE Ratings has reaffirmed the company’s long-term rating at CARE AA” with 'stable’ outlook.

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According to the regulatory filing the company expects net sales value (NSV) and revenue growth for the quarter to be in the high twenties on a YoY basis. With this, the full financial year 2024 revenue growth is estimated to be in mid-twenties YoY.

Nykaa remains a key driver of long-term beauty consumption growth in India. During the quarter, it witnessed strong momentum across key drivers of customer acquisition, platform conversion and userlevel growth. This has resulted in a healthy order volume growth, reflecting robust customer demand.

The strong offtake from key categories such as makeup and skin, as well as a highly successful ‘Pink Love Sale’ in the quarter has led to overall beauty and personal care (BPC) growth. Its BPC vertical GMV for the quarter is expected to grow around thirty percent, and NSV growth is expected to be in mid-twenties on a YoY basis, stated by the company.

In Fashion, while the industry growth remains muted, Nykaa Fashion continues its resilient growth momentum from the previous two quarters. Fashion vertical GMV for the quarter is expected to grow in the high twenties, and NSV growth is expected to be in the mid-twenties on a YoY basis.

On brighter note, Nykaa Fashion will continues to find success by prioritizing sustainable growth, focusing on a premium and differentiated offering and high-quality customer acquisitions. This is reflected in outperformance of focus categories as well as core customer segments in the quarter compared to overall growth.

Looking ahead, the company said others vertical which predominantly constitutes superstore by Nykaa, continues to scale exponentially. Others vertical GMV growth for the quarter is expected to be mid-sixties and NSV growth is expected to be around 80% on a YoY basis.

Nykaa (FSN E-Commerce) is one of India's leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive omnichannel e-commerce experience, Nykaa offers over 6,000 brands through its website and mobile applications.

FSN E-Commerce Ventures (Nykaa) reported consolidated net profit of Rs 17.45 crore in Q3 FY24, steeply higher than Rs 8.48 crore posted in Q3 FY23. Revenue from operations increased 22.28% YoY to Rs 1,788.8 crore in Q3 FY24.

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FSN E-Commerce Ventures on 12 March 2024 has allotted 6,54,228 Equity Shares of face value Re.1/- each towards the exercise of vested Employee Stock Options under Employee Stock Option Schemes of the Company.

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