High networth individual Narotam S Sekhsaria exited Nykaa by selling the entire 1.47 crore shares at Rs 173.7 apiece.

The Nifty IT index was trading 0.68 per cent down at 27947.85.

Bajaj Auto, Cipla, ONGC, Tata Consumer and Tech Mahindra were among the top losers on NSE.

The Nifty Auto index was trading 0.07 per cent down at 11842.55.

Out of 60 stocks on the BSE IPO Index, 18 stocks have dropped between 40 per cent and 65 per cent from their highs since listing.

Among the gainers Jagsonpal Pharma was high in demand, whereas Kamat Hotels found some buyers. Butterfly Gandhimathi hit an upper circuit.

Mazhar Mohammad of Chartviewindia.in said the market appears to be in a rangebound move as Nifty keeps faltering at the 15,900 level.

Its revenue from operations during January-March 2021 fell 8.41 per cent to Rs 161.75 crore as compared with Rs 176.61 crore in the year-ago period, the company said.

The fresh fundraising by the hospitality startup came at a time when it is slowly recovering from the impact of coronavirus pandemic.

The funding round also saw participation from Infosys co-Founder Kris Gopalakrishnan's family office, Pratithi, a statement said.

The company had posted a net profit of Rs 19.86 crore in the July-September quarter a year ago, it said in a BSE filing.

Under the proposed investment, basis the existing capital structure of ReviewAdda, the company will acquire either equity shares or convertible equity linked instruments which can be converted into equity shares equivalent to 10.71 per cent equity stake in ReviewAdda, HMVL said in a regulatory filing.

Key support level for the Nifty is placed at 11,071.4, followed by 11,011. If the index moves up, the key resistance levels to watch out for are 11,208.6 and 11,285.4.

The company had posted a profit of Rs 38.81 crore in the April-June quarter of the preceding fiscal, Hindustan Media Ventures Ltd (HMVL) said in a BSE filing.

The company had posted a profit of Rs 38.81 crore in the April-June quarter of the preceding fiscal, Hindustan Media Ventures Ltd (HMVL) said in a BSE filing.