Meesho Shares Soar 20%, Hit Upper Circuit; UBS Sets ₹220 Target Price

• E-commerce company Meesho Ltd shares hit the upper circuit today, December 17, with a 20% surge.
• UBS initiated 'Buy' coverage on Meesho, setting a target price of ₹220 per share.
• UBS projects Meesho's Net Merchandise Value (NMV) to grow at a 30% CAGR between FY25 and FY30.
• Growth is expected from increased annual transacting users (199 million to 518 million) and higher ordering frequency (9.2 times to 14.7 times).
• Meesho has delivered a 60% return in just 4 trading sessions since its December 10 debut.

Why It Matters: Meesho's stock surged 20% to hit the upper circuit, driven by strong UBS 'Buy' rating and growth projections.