India's Meesho rises after festive season sales witness strong opening-day demand

Meesho

12/10/2026 05:59

** Shares of e-commerce platform Meesho MEES.NS up 4.7% at 243.76 rupees, their highest levels in more than three weeks
** Stock on track for a fourth consecutive session of gains, if current trend holds
** During the weekend, company said it saw a 75% y/y growth during first day of its annual sales event
** Transacting customers grew 60% y/y, with strong demand across fashion, home and kitchen, beauty and personal care, kids, and electronic accessories
** Analysts at Axis Capital ("buy", TP at 236 rupees) says strong festive should aid a robust third-quarter user and net merchandise value
** Brokerage estimates Meesho has potential to capture about 8-10% of wallet share of targeted users in categories it is present in
** Sixteen analysts, on average, have a "hold" rating on the stock, median TP at 225 rupees, according to LSEG-compiled data
** YTD, shares up 35.25%


 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com; (+91) 8296756080))