One Brand Is Driving Nykaa's Growth, And Macquarie Thinks It's A Risk

Despite the earnings' upgrades, Macquarie reiterated its Underperform rating on Nykaa but hiked the target price of Rs 210, implying potential downside from current levels.

Mar 6, 2026 - 11:00
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Despite the earnings' upgrades, Macquarie reiterated its Underperform rating on Nykaa but hiked the target price of Rs 210, implying potential downside from current levels.

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