BusinessPhoto: Mint MarketsAnand Rathi Initiates Buy Rating on Nykaa with ₹400 Target
Anand Rathi has started coverage on Nykaa shares with a 'buy' rating and a target price of ₹400, valuing the stock at 50 times FY29e EBITDA. The brokerage highlights Nykaa's strong FY26 recovery, reaching about $1 billion revenue, driven by growth in Beauty and Personal Care and improved fashion segment economics. They expect Nykaa to trade at a premium to retail peers due to its growth potential and margin expansion.
Mint Markets·


