Meesho Shares Rise Over 6% After Jefferies Reaffirms Buy Rating

Indian e-commerce platform Meesho experienced a significant boost on Thursday, with its shares jumping over 6% on the BSE. This surge followed an affirmation of a 'Buy' rating from Jefferies, which also reiterated its price target of ₹240 for the company.

Jefferies cited expectations from Meesho's management for a 25% compound annual growth rate (CAGR) in net merchandise value (NMV) over the next five years. This growth is anticipated to be driven by user acquisition, increased order frequency, and enhanced logistics efficiency. The brokerage also highlighted improving contribution margins, potential in financial services, and growing penetration in higher-value categories as factors supporting sustained profitable growth.

The analysis firm pointed to Meesho's value-led market positioning, the scale of its logistics arm, Valmo, and its reach beyond major cities as key competitive advantages. Additionally, Meesho is considered a strong candidate for inclusion in the MSCI India Global Standard Index in November, a move that could further enhance its market standing.

In separate news, Meesho reported that its content commerce NMV grew by 152% year-on-year in the 12 months ending August 2026, supported by 1.6 million active creators, predominantly nano-influencers. A significant portion of creators and orders originate from non-metro areas, with homemakers forming a substantial part of the creator base.

Financially, Meesho reported a 54.1% reduction in its consolidated net loss for the first quarter, narrowing it to ₹132.8 crore. Marketplace revenue increased by 48% year-on-year, reaching ₹3,707 crore.