FPI buying gives wings to Nykaa shares; surge 20% post persistent sell-off

Aberdeen Standard Asia Focus Plc (4.27 million), and Norges Bank on account of Government T Petroleum Fund (3.98 million) bought a combined 8.25 million shares via block deals on Thursday

Shares of FSN E-Commerce Ventures, which owns beauty e-retailer Nykaa, moved higher by 20 per cent to Rs 224.65 on the BSE in Friday's intra-day trade after foreign portfolio investors (FPIs) acquired stake in the company via open market on Thursday.

On November 10, investor Narotam S Sekhsaria offloaded 14.7 million equity shares of Nykaa at a price of Rs 173.70 via block deals on the BSE, exchange data showed. Aberdeen Standard Asia Focus Plc (4.27 million), and Norges Bank on account of Government T Petroleum Fund (3.98 million) bought a combined 8.25 million shares of the company via