Meesho’s shares hit 20% upper circuit after UBS initiates ‘Buy’ call

Shares of social commerce firm Meesho hit the 20% upper circuit in early trade on Tuesday after global brokerage UBS initiated coverage on the stock with a Buy rating, triggering strong buying interest.

The stock was locked at its upper circuit band during intraday trade, with limited sell-side participation, reflecting heightened investor optimism following the brokerage’s note. According to market data, Meesho’s shares surged to around Rs 216 on the NSE, marking one of its sharpest single-day gains since listing.

In its initiation note, UBS…