Nykaa Eyes $5B GMV by FY30; RateGain, Creative Newtech Ink Deals

Nykaa’s Ambitious FY30 Target

FSN E-Commerce Ventures, operating as Nykaa, has set an ambitious target to achieve a USD 5 billion-plus Gross Merchandise Value (GMV) in its beauty and lifestyle business by FY30. The company detailed this significant growth strategy in a recent press release.

Key Deals & Market Moves

• RateGain Travel Technologies saw its shares gain after announcing a new demand partnership with Cinko. This collaboration aims to help hotels capture last-minute booking demand by connecting Cinko with RateGain’s extensive global hotel supply ecosystem.
• RateGain was trading up by 0.27% at Rs. 889.00 on the BSE following the announcement.
• Additionally, Creative Newtech announced a strategic partnership with Ravel Electronics for the distribution and market development of Fire Detection and Life Safety Solutions across India.

Indian & Global Market Overview

Indian equity markets traded slightly above neutral lines in the late afternoon session. Investors adopted a cautious stance following the US Federal Reserve’s decision to keep interest rates unchanged, coupled with lingering concerns over inflation due to the West Asia conflict.

• Easing global crude oil prices, with Brent declining below $79 per barrel, provided some support.
• Continued fund inflows by foreign institutional investors (FIIs), who bought securities worth Rs 101.59 crore on Wednesday, also bolstered sentiment.
• Reports of a potential free trade agreement between India and the United Kingdom offered further optimism.

Globally, Asian markets mostly settled higher on Thursday. South Korea’s Kospi and Japan’s Nikkei 225 climbed to new record highs amid signs of easing geopolitical tensions following reports of a United States-Iran peace agreement.

Despite this, a cautious undertone persisted due to Wall Street’s overnight decline and climbing US Treasury yields, as the US Federal Reserve hinted at a possible interest rate hike later this year.