Meesho Shares Jump Over 6% After Jefferies Retains ‘Buy’ Rating

Shares of Meesho rose 6.1% to an intraday high of ₹240.40 apiece on the BSE after Jefferies maintained its ‘Buy’ rating on the ecommerce company with a target price of ₹240. At 12:00 IST, the stock had pared some gains to trade 5.8% higher at ₹239.70 apiece, giving Meesho a market capitalisation of ₹1.10 Lakh Cr (about $11.5 Bn). The day’s high briefly took the stock above the brokerage’s target price.