Nykaa shares decline 5% for second straight day on heavy volumes

Since Nov 10, when the stock price of Nykaa turned ex-bonus and the lock-in period ended, investors as well as private equity firms have offloaded around 181 million equity shares

Shares of Nykaa, owned by FSN E-Commerce Ventures, were trading lower for the second straight day, down 5 per cent at Rs 174.50 on the BSE in Tuesday's intra-day trade, amid heavy volumes. The stock of the beauty e-retailer has fallen 9 per cent in the past two trading days. In comparison, the S&P BSE Sensex was up 0.30 per cent at 61,326 at 12:10 PM.

A combined 44.56 million equity shares of Nykaa had changed hands on the NSE and BSE till the time of writing of this report, the exchange data shows. The names of the buyers