Meesho: Why JM Financial calls ‘Flagbearer’ of Indian e-commerce but recommends ‘Reduce’?
JM Financial started covering Meesho, a recently listed e-commerce giant, with a "Reduce" rating. Despite being a pioneer in democratizing e-commerce in India, the brokerage predicts a decline in stock value due to overpriced valuations. Meesho's strong market presence, cost efficiency through Valmo, and successful "Bharat" strategy are acknowledged, but the rating remains negative.