Share price of Nykaa’s parent company FSNE-Commerce gambles tumbled 4 percent moment on heavy volumes, after multiple trades took place in the block deal window. According to Bloomberg data,57.1 million shares- about 2 percent equity- changed hands in five bunched trades.

The stock was quoting Rs176.25 on the National Stock Exchange, down by4.45 percent, at 10 am on Thursday. It has declined16.5 percent from its November 14 close of Rs 211 all.
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As per the information available, one block of 18 million shares worth Rs319.25 crore changed hands on the BSE at an average price Rs176.95 per piece. Another block of 12 million shares were vended off at an average price of Rs176.70 a piece. There were numerous further similar blocks.

Ever since its cinch- in expiry on November 9, the counter has seen several trades. Foreign investors Segantii India Mauritius, Norges Bank, Aberdeen Standard Asia Focus Plc, Societe Generale and Morgan Stanley Asia Singapore( Pte) picked up stake aspre-IPO investors Narotam Sekhsaria, Lighthouse India, TPG Growth vended their effects.

After buying 38 lakh shares on November 9 at an average price of Rs175.75 all, Segantii India vended over 33 lakh shares on November 15 for Rs199.24 all.

The cinch- in expiry also coincided with the stock’sex-bonus issue date which arrested its fall on that day but was a short-sighted move, as per experts. “ If Nykaa did the perk to reduce pressure from shareholders dealing because perk shares will come only after amonth.this is a veritably short observed move and will boomerang big time when shares actually come by, ” PMS fund director Deepak Shenoy had twittered