Meesho’s shares surged nearly 9.4% to an intraday high of Rs 187 after UBS initiated coverage with a Buy rating, citing strong growth potential. The stock is now up 76% from its IPO price, boosting co-founder Vidit Aatrey into the billionaire club. UBS predicts robust Net Merchandise Value growth driven by user expansion and increased ordering frequency.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets