Meesho, after a blockbuster debut on Wednesday, got a thumbs up from Choice Institutional Equities. The brokerage firm has initiated coverage on the stock suggesting a sharp rally in the stock. However, the majority of the upside was priced in during the maiden trading session but target prices suggest some more steam left in the counter. Advertisement

Meesho commands 29-31 per cent of India’s ecommerce shipment volumes, with NMV expected to grow at 31 per cent CAGR over FY25–28E, supported by category leadership in fashion, home, kids and BPC. Order frequency has risen to 9.7 times (LTM FY26), while customer acquisition cost (continues to decline, driving contribution margin expansion to 5 per cent, said Choice.

Shares of Meesho were listed at Rs 162.50, signaling a 46.4 per cent premi

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