India, March 15 -- Broking HSBC has initiated coverage on Meesho with a 'hold' recommendation and a target price of Rs 160 for the e-commerce firm's shares. The potential upside for Meesho's shares from current levels is around 12%. HSBC's 'Hold' recommendation on Meesho's shares is based on its belief that it would be challenging for Meesho to sustain its growth trajectory while at the same time enhancing profitability in India's competitive e-commerce space.

With a market cap of Rs 62,056 crore, the shares of Meesho Ltd are trading at Rs 138; however, the shares have given a negative return of 16% since their listing in December 2025.

HSBC said Meesho has managed to establish a strong presence in India's value e-commerce space by focu...