{
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  "path": "/markets/dot-and-key-driving-nykaas-beauty-growth-and-replication-is-difficult-says-macquarie-11175480",
  "publishedAt": "2026-03-06T03:46:06.000Z",
  "site": "https://www.ndtvprofit.com",
  "tags": [
    "Markets"
  ],
  "textContent": "Despite the earnings' upgrades, Macquarie reiterated its Underperform rating on Nykaa but hiked the target price of Rs 210, implying potential downside from current levels.",
  "title": "One Brand Is Driving Nykaa's Growth, And Macquarie Thinks It's A Risk"
}