Meesho shares have seen strong gains in recent times, leaving investors to wonder whether it is the right time to buy the stock or wait for a correction.
Over the last six months, the stock has surged nearly 60%, defying weak stock market sentiment.
As per the BSE data around 2 pm on 7 October, Meesho's share price is up 59% in the last six months compared to a 3% fall in the equity benchmark Sensex. Year-to-date, the stock is up 30, hitting a 52-week low of ₹125.70 on 16 March. Meesho shares hit a 52-week high of ₹254.65 on 18 December last year.
The stock declined nearly 2% in intraday deals on 7 October, looking set to snap its two-day winning run.
In an exchange filing on 6 October, Meesho said its board had approved an investment of up to ₹50 crore in Retail Pulse Labs Private Limited. Retail Pulse Labs will become a step-down subsidiary of the company after the completion of the acquisition.