Meesho shares surge 5% as strong festive sales, Q2 biz update boost sentiment. Should you buy?
Meesho shares rallied as much as 5% after the company reported a 75% year-on-year jump in Day 1 orders during its Mega Blockbuster Sale 2026. Orders on Meesho Mall surged over 200%, while creator-led commerce grew 3.7 times. Meanwhile, Nomura initiated coverage with a Reduce rating, citing rising competition, while UBS raised its target price by 24% to Rs 260.
Meesho's shares rose 5% on Monday, reaching a peak of Rs 244 on the BSE. The company attributed the surge to strong demand during its Meesho Mega Blockbuster Sale 2026, which saw orders increase by 75% year-on-year. In the first 15 minutes of the sale, orders surpassed 75,000 per minute, highlighting the high level of festive demand on the platform.
Meesho also reported a 60% year-on-year increase in transacting customers and a 200% growth in orders on its branded shopping platform, Meesho Mall. The number of customers from non-metro markets using Meesho Mall nearly tripled compared to last year. Beauty and personal care were the most popular categories among new Meesho Mall shoppers, with health and wellness and footwear following.
The company also saw significant growth in creator-led commerce, with orders through Content Commerce increasing by around 3.7 times year-on-year. Nano creators, with fewer than 10,000 followers, made up 90% of the active creator base, while 81% of creators were based in non-metro India.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
