New Delhi, Feb. 6 -- FSN E-Commerce Ventures, the parent of Indian beauty retailer Nykaa, saw its shares surge another 6.2% in Friday's trade on February 6, hitting a 1-year high of Rs.274.45 apiece. This extended the stock's winning run to a fourth straight session, as brokerages stayed bullish on the stock following the company's better-than-expected performance in the December-ending quarter.

According to CNBC TV18, Japanese brokerage firm Nomura upgraded Nykaa to a 'buy' from 'hold' and raised its price target to Rs.305 from Rs.261 earlier, implying an upside potential of 17% from Thursday's closing price. Mint could not independently verify this report.

The brokerage expects the company's EBITDA to sustain a compounded annual growt...