Nykaa shares fall after Macquarie initiates coverage with 'underperform', sees 23% downside
Nykaa share price: The stock of Nykaa fell almost three per cent on Monday, after Macquarie initiated coverage on the cosmetics-to-fashion retailer with an 'underperform' rating citing risks to the company's beauty segment margin.
Nykaa shares have lost 34 per cent of their value in the past one year. | Image: Reuters