In the spot market, highest purity gold was sold at Rs 48,217 per 10 grams while silver was priced at Rs 64,780 per kg on Tuesday, according to the Indian Bullion and Jewellers Association.

The Nifty Auto index was trading 0.62 per cent up at 11839.0.

The stock traded at a P/E multiple of 77.15, while the price-to-book value ratio stood at 4.74.

The IPO is valued at 42.6x FY21 earnings and 43.7x FY22 annualized earnings, which looks to be reasonably priced, said Reliance Securities.

“Whether Nykaa will go D-Mart way or the Zomato way is very difficult to say but out of x number of companies which are getting listed at crazy valuations, may be a few companies will eventually turn out to be big winners over the next two or three years like we have seen in the case of D-Mart. Nykaa has that kind of promise and potential. ”

Trent Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 39956.79 Crore) operating in Retail sector.

The Relative Strength Index of the stock stood at 47.33 on Wednesday.

A total of 6,126 shares changed hands on the counter till 11:57AM (IST).

It incurred a net loss of Rs 552.38 crore in the year-ago period, a BSE filing stated.

As of 30-Sep-2021, promoters held 43.51 per cent stake in the company, while FIIs held 34.97 per cent and domestic institutional investors had 2.03 per cent.