JM Financial Initiates Coverage on Meesho, Citing Growth Potential and Valuation Concerns
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JM Financial Initiates Coverage on Meesho, Citing Growth Potential and Valuation Concerns

JM Financial initiated coverage on e-commerce platform Meesho, calling it the 'flagbearer' of Indian e-commerce democratisation due to its dominant market reach and cost leadership via its Valmo logistics platform. Despite acknowledging significant growth potential and a large user base, the brokerage issued a 'Reduce' recommendation, citing stretched valuations and potential supply increases post lock-in expiry, forecasting a stock price decline.

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