Stocks to Watch Today: Nykaa Share Price Drops 4.5% on Block Deal; DMart, PVR Inox Among Key Movers

The Indian stock market witnessed significant action today with several key stocks making headlines. Nykaa share price witnessed a sharp dip of over 4.5% in early trade on Thursday, falling to ₹202.25 apiece on the BSE, while other major companies like DMart, PVR Inox, and Nestle India also remained in investor focus due to various corporate developments.

Nykaa Share Price Under Pressure Due to Block Deal

The Nykaa share price faced significant selling pressure today following news of a major stake sale by early investor Harindarpal Singh Banga. Hong Kong-based investor Harindarpal Singh Banga and his family, plan to sell stake worth 12.84 billion rupees ($149.93 million) in the beauty products retailer through a block deal.

The block deal involves Banga offloading a 2.1% stake for ₹1,200 crore, representing a significant exit by one of Nykaa's pre-IPO investors. As one insider said, "The family will continue to hold the remaining 2–2.5% stake in Nykaa," reinforcing their belief in the company's longer-term prospects.

Current Nykaa Share Price Performance:

• Current Price: ₹204.25 (as of latest trading)

• 52-week Low: ₹154.90

• Year-to-date Performance: +20%

• Market Cap: ₹60,508 crore (up 20.8% in 1 year)

Other Key Stocks in Focus Today

1. DMart (Avenue Supermarts)

Avenue Supermarts, the operator of the DMart retail chain, reported strong quarterly performance with a 16% year-on-year increase in standalone revenue for Q1 FY26, reaching ₹15,932.12 crore. The retail giant continues to maintain its market leadership position in the value retail segment.

2. PVR Inox

India's largest cinema exhibitor announced ambitious expansion plans, aiming to invest up to ₹400 crore to expand its network by adding 200 new screens over the next two years. This expansion strategy reflects the company's confidence in the recovery of the entertainment sector post-pandemic.

3. Nestle India

The FMCG major remains in focus amid ongoing market developments, with investors closely monitoring its performance in the consumer goods sector.

4. Indian Overseas Bank (IOB)

IOB announced that its shareholders have approved a plan for raising up to ₹4,000 crore in equity capital through multiple channels, including Qualified Institutional Placements (QIPs), rights issues, and employee stock schemes.

5. Hindustan Zinc

The company reported record-high mined metal production of 265 kilo tonnes for the first quarter, marking a 1% year-on-year increase, demonstrating operational efficiency in the metals sector.

Technical Analysis: Nykaa Share Price Outlook

From a technical standpoint, Nykaa is trading close to its 50DMA and comfortably placed above its 200DMA, around 6% above 200DMA. It needs to take support around the 50 DMA level to continue further upside move. CLSA initiates coverage on FSN E-Commerce Ventures Ltd with an Outperform rating and a target price of ₹229, indicating a 12% upside.

Market Sentiment and Investor Reaction

The Nykaa share price decline today reflects typical market reaction to large block deals, where supply concerns often create temporary pressure. However, the company's fundamentals remain strong with Nykaa's consolidated net profit surged 110% to INR 19.1 Cr in Q4 FY25, indicating robust operational performance.

The company maintains a market cap of ₹60,508 crore with promoter holding at 52.2%, while revenue stands at ₹7,950 crore with profit at ₹72.1 crore.

Additional Interesting Business Decisions Today

1. Voltas :

The company received a show cause notice from the Central GST Commissionerate in Dehradun, citing alleged GST shortfalls related to a merged entity for FY 2018-2021.

2. Punjab National Bank :

PNB delivered stable operational performance in Q1 FY26, with global business growing 11.6% year-on-year to ₹27.19 lakh crore.

3. Rail Vikas Nigam Ltd (RVNL) :

The company appointed Chandan Kumar Verma as its new Chief Financial Officer, effective July 2, 2025.

4. Coromandel International :

Received CCI approval to acquire 10.69 crore shares, representing a 53.13% stake in NACL Industries.

5. Vedanta :

The company's planned demerger faced regulatory setbacks as the Ministry of Petroleum and Natural Gas raised objections during the NCLT hearing on July 2.

Market Outlook

Despite today's decline, the Nykaa share price continues to trade within a reasonable range considering the company's growth trajectory in India's booming beauty and personal care market. The block deal represents a portfolio rebalancing by early investors rather than a reflection of company fundamentals.

Investors should monitor how the stock responds to the increased supply from the block deal and whether it finds support at key technical levels. The company's strong revenue growth and expanding market presence in the beauty segment continue to support long-term investment thesis.

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