Shares of Nykaa’s parent company FSN E-Commerce Ventures, hit a record low of Rs 132.55 in intraday trade on Tuesday, down 5.5%, amid firmer markets. The stock has fallen 10% over the past two days and 15% over the past four sessions.

Nykaa was quoted 4.5% lower at Rs 133.90 at 11:07 am, while the S&P BSE Sensex rose 0.51%. The average OTC volume on NSE and BSE almost tripled today, with 15.97 million shares changing hands.

Shares of the beauty e-retailer have fallen 62% over the past year, compared with a 1.5% drop in the benchmark Sensex index. Also, it has corrected by Rs 69 from its all-time high of Rs 429, recorded on November 26, 2021.

Nykaa is India’s most significant online beauty and cosmetics retailer. Founded in 2012 by Falguni Nayar, has a beauty, personal care and fashion portfolio, including private label and international products. It also opened a brick-and-mortar store in 2014.