Market movers: PNC Fintech surges 12%, Nykaa sees buying too

NEW DELHI: After Nykaa executed a settlement of an ongoing litigation with L'Oreal S.A., that too without any penalty of settlement fee, investor appetite for Nykaa shares grew on Wednesday.

L'Oreal S.A. had filed a civil suit against FSN E-Commerce Ventures, the parent company of Nykaa, and Nykaa E-Retail Pvt. Ltd. alleging copyright infringement over the "Maybelline" line of products.

The settlement led to buying in the counter and the stock price ended up about 2 per cent on NSE.

Road to success?
Creating a robust order book is extremely important for an infra company so that it can have revenue visibility for years. On that note, PNC Infratech seems to be doing all the right things.

The road construction company said it bagged orders of Rs 4,384 crore from the National Highway Authority of India to build roads in Uttar Pradesh. One project is part of the ambitious Bharatmala Pariyojana. PNC says these projects will be operated for 15 years after the completion of construction.

Investors saw it as a sign to accumulate its shares. The stock price climbed 12 per cent in an otherwise dull day for the market. However, it still trades significantly lower than the 52-week high levels.

Rs 150 crore-opportunity:
Bajaj Healthcare, a manufacturer of APIs, intermediates and formulations, announced the launch of Magnesium L-Threonate in the nutraceutical segment. The drug is a nutritional supplement used to normalise magnesium levels in the body, helps to improve memory, muscle and nerve function and also aids in brain development by reversing brain aging.

It is used to control, prevent and normalise the symptoms associated with Alzheimer’s disease, Attention disorder, Bipolar disorder and Parkinson’s disease. The addressable market size is approximately Rs 150 crore.

The management intends to produce 12-15 tonnes of Magnesium L-Threonate in Q4FY22 and 120 tonnes in FY23. It is expecting “notable sales” coming from the product.

The bullish commentary lifted the stock up over 4 per cent on Wednesday.