<ul data-eligibleForWebStory="false"><li>Shares of Nykaa's parent company, FSN E-Commerce Ventures Ltd., rose over 2% after Morgan Stanley maintained an 'overweight' stance following the first quarter business update.</li><li>FSN expects consolidated revenue to grow at the lower end of the mid-20% range year-on-year, with GMV surpassing the mid-20s during the April-June quarter of fiscal 2026.</li><li>Morgan Stanley reiterated its 'overweight' stance on Nykaa, with a target price of Rs 225, citing first quarter results in line with expectations. Beauty segment growth remained strong, and the fashion segment improved sequentially.</li><li>Nykaa's share price rose 2.10% to Rs 202.40 apiece following the news. The stock has gained 12.89% in the last 12 months and 22.18% year-to-date. Analyst consensus implies a 3.7% upside.</li></ul>

Nykaa Shares Gain As Morgan Stanley Is 'Overweight' Post Q1 Business Update

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