Meesho Share Price: On Tuesday, December 23, the second trading day in the Indian stock market, there is a huge fall in the shares of e-commerce company Meesho. Company shares have fallen by about 8 percent during the trading day.

If we talk about the performance of company shares in the last three days, a decline of more than 21 percent is being seen in it. Besides, the market cap of the company has also decreased. It has come down to below Rs 85,000 crore. Let us know the condition of the company in the stock market and the reason for this decline…

Company’s condition on BSE

The company’s shares were trading at Rs 185.45 on BSE at around 2:35 pm on Tuesday, down 8.22 per cent or Rs 16.60. The shares started the trading day at Rs 190.35.

Talking about the 52-week high level of shares, during this period the company shares had touched the figure of Rs 254.65. At the same time, the low level of 52 weeks is Rs 153.95.

Why did the company’s shares fall?

According to market experts, profit-booking could be a major reason behind this decline. There was a tremendous rise in the shares after their listing. After listing the shares went up very fast. Due to which its valuation increased significantly in a short time. Investors started booking profits to convert the increased share prices into profits.

expert opinion

Harshal Dasani, business head of INVasset PMS, told Moneycontrol Hindi that the recent rise in Meesho’s stock had taken it far beyond the target price set by many brokerage houses.

This means that most of the positive factors related to the share were already reflected in the price. He said that, at present, investors’ trust rests more on the long-term growth of the company than on short-term earnings.

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