Shares of newly-listed Meesho witnessed profit booking in trade after hitting a fresh record high, even as the company’s market capitalisation briefly crossed the Rs 1 lakh crore mark during the session.
The stock had surged sharply in recent days, extending its post-listing rally and delivering strong gains to investors. However, after touching new highs, some investors chose to lock in profits, leading to mild intraday pressure on the share price.
Strong Post-IPO Run Triggers Profit Taking
Meesho has been one of the standout performers among recent IPOs, with sustained buying interest driven by robust listing gains, positive brokerage commentary, and strong investor appetite for internet and consumer-tech stocks. The sharp run-up in valuation, however, prompted short-term traders to book gains.
Market Cap Milestone Achieved
During the session, Meesho’s market capitalisation briefly crossed Rs 1 lakh crore, highlighting the strong confidence investors have placed in the e-commerce platform since its market debut. The milestone underlines Meesho’s rapid emergence as one of the most valuable newly-listed companies on Indian bourses.
Despite near-term volatility, Meesho remains firmly in focus on Dalal Street as investors track trading cues, institutional flows, and broader market sentiment.
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