Another brokerage firm, Edelweiss, has also maintained its buy rating on Nykaa but has trimmed its target price to Rs 1,743 from Rs 1,859 earlier, baking in a higher cost of capital and stiff competition as the key risks for the valuations.
Monetary policy expectations impact stocks more than rate moves: RBI paper
Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy