Meesho Shares Jump 6% as Jefferies Keeps 'Buy' — the Value-Commerce Comeback Story

Sometimes the market delivers a standing ovation. On 6 October 2026, shares of Meesho jumped 6.1% to an intraday high of ₹240.40 on the BSE after Jefferies retained its 'Buy' rating with a ₹240 target price, ending the session 5.2% higher at ₹238.40 with a market capitalisation of ₹1,10,314.6 crore (about $11.4 billion).

The brokerage's conviction rests on Meesho management's expectation of a 25% CAGR in net merchandise value (NMV) over the next five years, driven by user growth, higher order frequency and improving logistics efficiencies. Jefferies pointed to improving contribution margins, financial-services optionality and growing penetration in higher-value categories as pillars of sustained profitable growth — alongside Meesho's value-led positioning, the scale of its logistics arm Valmo, and its reach far beyond metro cities.

The real fireworks came from content commerce. In an exchange filing the same day, Meesho revealed its content-commerce NMV grew 152% year-on-year in the twelve months ended August 2026, powered by 1.6 lakh active creators — 90% of them nano creators with fewer than 10,000 followers. About 81% of creators come from non-metro areas, and Tier III and IV cities account for 66% of content-commerce orders, with homemakers forming 40% of the creator base. Its short-form video platform Video Finds clocked nearly 4,800 crore views in a year.

The fundamentals are strengthening too: Q1 FY27 net loss narrowed 54.1% to ₹132.8 crore while marketplace revenue rose 48% YoY to ₹3,707 crore. And Centrum Broking counts Meesho as a high-conviction candidate for MSCI India Global Standard Index inclusion in its November review.