Shares of FSN E-Commerce Ventures, the parent company of Nykaa, surged nearly 6% to reach a record high on Monday after reporting stronger-than-expected Q2 performance. The company posted double-digit growth in beauty and personal-care sales, supported by festive season demand and improving margins. Analysts cited robust revenue visibility, enhanced omni-channel penetration, and continued traction in Nykaa Fashion as key positives. Brokerages maintained ‘buy’ ratings with a 12–15 percent upside potential over the near term.