Monday, 28 September 2026Updated 16m ago
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Broker call▼ Bearish for Meesho

Nomura initiates Meesho at Reduce, sees 28% downside to ₹167

5 sources · first seen 07:39 25 Sept · updated 13:10 25 Sept

The brief

Written from 5 reports · check the source before you trade
  • Nomura set a ₹167 target, implying 28% downside; shares fell as much as 5% to ₹221
  • Nomura said Meesho trades at a premium to Eternal and Swiggy despite their higher NMV growth
  • A valuation warning pressures Meesho, while Eternal and Swiggy are cited as comparative peers

Market read

the session the news first traded, and since
StockTradedThat dayvs NiftyVolumeSince
ETERNALFri, 25 Sept−0.1%−0.5%0.8×−0.1% · Nifty +0.3%
MEESHOFri, 25 Sept−6.8%−7.1%1.3×−6.8% · Nifty +0.3%
SWIGGYFri, 25 Sept−1.0%−1.3%0.4×−1.0% · Nifty +0.3%

✓ Classifier read this as negative; MEESHO fell 7.1% against the Nifty on the day it traded.

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Meesho₹217.06 · 0 todayMarket valuations74 todayE-commerce5 todayEternal₹335.00 · 0 todaySwiggy₹264.85 · 2 today

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Part of a developing story4 updates over 2 days

Meesho valuation and competition concerns

Nomura initiated coverage of Meesho with a Reduce rating and ₹167 target, implying 28% downside. Reports cited the company’s asset-light model, Valmo logistics network and growth potential, alongside rising competition and premium valuation risks.

Friday, 25 September

  1. Rising competition, premium valuations may cap gains in Meesho stock
  2. Meesho shares slip 7% as Nomura assigns 'reduce' call; here's what the brokerage says
  3. Price Action: Meesho down 4% as Nomura keeps 'reduce' rating; LCC Projects jumps 4% on project win
  4. 5 sourcesYou are here
    Nomura initiates Meesho at Reduce, sees 28% downside to ₹167

Follow the full storyline →

Read the reports

5 reports · earliest 07:39
CNBC-TV18Meesho share price could fall 28%, Nomura warns citing these key risks07:39Economic TimesMeesho shares can fall 28%, warns Nomura after initiating coverage with Reduce call. Here is why09:49Business StandardMeesho's valuation woes prompt Nomura to assign 'Reduce' tag; stock down 5%11:12Financial ExpressCan Meesho fall another 24%? Nomura flags risk of rich valuation over Eternal, Swiggy13:09MoneycontrolMeesho shares fall 6% as Nomura warns of premium valuation, initiates 'Reduce' with Rs 167 target price13:10