Anand Rathi starts Nykaa coverage with buy rating
In short
Anand Rathi has started covering Nykaa and gave the stock a buy rating. The brokerage said Nykaa had a big turnaround in FY26 and hit a record $1 billion in revenue.
This matters because broker calls can move investor interest in a stock. The report does not give the target price here or say how the shares moved after the note.
What the reporting says
Mint Markets reports that Anand Rathi initiated coverage on Nykaa with a buy rating and cited a significant turnaround in FY26, including a record $1 billion revenue. The note is presented as a stock call on the e-commerce and beauty retailer. The supplied summary does not provide the target price or the broader market reaction.
Why it matters
The reported event is a brokerage initiation on Nykaa with a buy rating, supported by a claim of a significant turnaround in FY26 and record $1 billion revenue. The summary points to improved business momentum at the e-commerce company. However, the available reporting does not state the target price, valuation assumptions, or whether the stock reacted immediately.