Business · Updated 6 Oct, 01:07 pm IST
Meesho shares rise after Jefferies retains ‘Buy’ rating
Why it matters for readers: Explains why a news item about a brokerage note led to a noticeable share-price move in an Indian ecommerce firm.
- Meesho shares rose as much as 6.1% to an intraday high of ₹240.40 on the BSE after Jefferies kept its ‘Buy’ rating with a ₹240 target price.1
- At midday the stock traded about 5.8% higher at ₹239.70, giving Meesho a market capitalisation of roughly ₹1.10 lakh crore.1
- Jefferies referenced management's guidance of a 25% CAGR in net merchandise value over five years driven by user growth, higher order frequency and logistics efficiencies.1
- Analysts noted improving contribution margins, potential financial-services opportunities, and deeper penetration into higher-value categories as support for profitable growth.1
- Centrum Broking also flagged Meesho as a high-conviction candidate for inclusion in the MSCI India Global Standard Index.1
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