Motilal Oswal initiates coverage on Nykaa with ‘neutral’ rating, Rs 280 target price on strong brand-led discovery model

Motilal Oswal has initiated coverage on Nykaa with a ‘Neutral’ rating and a target price of Rs 280, implying a 10.3% upside from the previous close. The brokerage cited Nykaa’s strong position in the beauty and personal care segment, where it holds about a 27% share of India’s online market.