Pending — not yet graded
Reiterated 'Buy' rating on Nykaa with a target price of ₹400, describing the quarter as a strong beat across key metrics. The brokerage highlighted healthy user growth in beauty, premiumisation trends, over 50% growth in fashion, scaling up of Nykaa's house of brands, and increasing reach of its quick-commerce offering.

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%

NykaaBullishCalled 05 Aug 2026
Verdict:PENDING

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