Meesho Hits 20% Upper Circuit Post UBS’ Thumbs Up

by · Inc42

SUMMARY

  • The SoftBank-backed company’s shares were locked in its 20% upper circuit at INR 216.35 during intraday trading on the BSE today
  • Meesho’s market capitalisation also zoomed to $10.81 Bn (INR 97,641.59 Cr), almost double its IPO valuation of about $5.5 Bn
  • UBS initiated coverage on the stock with a 'Buy' recommendation and set a price target of INR 220 for the stock