HSBC's April 2026 note flagged room for 7,000 Lenskart stores in India, initiating with Hold — resurfacing now
Resurfacing a April 2026 call, HSBC initiated coverage on Lenskart with a Hold rating and a Rs 513 target, saying much of the growth outlook is priced in. The brokerage saw long-term potential for a 7,000-store India network, supported by sub-one-year store paybacks and rising organised eyewear demand.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation captures much of its growth. The brokerage sees a long-term India opportunity for about 7,000 stores, backed by strong store economics, integrated operations and growing organised eyewear demand.
Why this matters
The note returns as the Lenskart–Titan rivalry keeps eyewear in focus and a prior H1 FY26 expansion signal reported 203 India store additions. It also echoes the earlier HSBC recap on 7,000-store potential and limited stock upside.
Store-opening is steady at 1,401 signals in 90 days; no QoQ comparison figure was provided.