HSBC's Meesho Outlook: Limited Upside, Profit May Hinder Growth

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HSBC Cautions on Meesho: Profit Growth May Stall, ₹1,499 Cr Tax Demand Hits Stock

HSBC Cautions on Meesho: Profit Growth May Stall, ₹1,499 Cr Tax Demand Hits Stock

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CNBC TV18•10-03-2026, 08:15

HSBC Cautions on Meesho: Profit Growth May Stall, ₹1,499 Cr Tax Demand Hits Stock

•HSBC initiated 'Hold' on Meesho with a ₹160 price target, implying a potential 12% upside.
•Brokerage warns that improving profitability in Meesho's value e-commerce model could come at the cost of growth.
•Meesho's stock plunged 10% after receiving a ₹1,499.73 crore tax demand from the Income Tax Department for AY 2023-24.
•The company plans to challenge the assessment order, asserting strong legal and factual grounds.
•Lock-in period expired for 2% of Meesho's equity; stock closed at ₹143.34, well below its IPO price of ₹221.

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