Nykaa shares rose over 4 per cent on Monday after the company shared its Q2 FY2027 revenue update on October 4. The fashion vertical led growth with strong numbers. SBI Securities said the healthy performance was a "strong business update" and positive for the stock in the short term.
Shares of FSN E-Commerce Ventures Limited (Nykaa) rose sharply on Monday morning, gaining over 4 per cent on the NSE following the company's provisional Q2 FY2027 revenue update released on October 4. The stock was trading at ₹338, up ₹13.05 or 4.02 per cent from its previous close of ₹324.95, touching an intraday high of ₹343.15. By 10.45 AM, traded volume had already reached 81.66 lakh shares worth ₹277.20 crore, indicating heavy interest from market participants.
SBI Securities termed the update a "strong business update" and said the healthy performance across Beauty and Fashion verticals, despite a festive season shift to Q3, was "positive for the stock in the short term."
On the fundamentals, Nykaa reported consolidated GMV growth close to the thirties and NSV growth higher in the early thirties, on a year-on-year basis. Consolidated net revenue growth is expected to be in the late twenties. The GMV trajectory marks a slight moderation from 34 per cent in Q1 FY2027, though NSV momentum has held steady.
The Beauty vertical is expected to deliver NSV and net revenue growth in the late twenties. Its retail footprint expanded to 338 stores after 14 net additions in the quarter, and like-for-like store sales growth hit the early twenties, the best in six quarters.
The Fashion vertical was the standout, with NSV growth expected in the late forties and net revenue growth in the early forties, driven by new customer acquisition and the addition of over 250 brands. The Nike partnership continued to gain early traction.
The company noted that a larger part of the festive season falls in Q3 this year, shifting some demand out of Q2. The stock is still some distance from its 52-week high of ₹349.55 touched on August 31, 2026.