HSBC's April Hold call on Lenskart resurfaces as 7,000-store runway meets limited upside
Resurfacing an April 2026 move, HSBC had initiated coverage on Lenskart with a Hold rating and ₹513 target, implying about 2% upside. The brokerage sees long-term growth from expanding India’s network from roughly 2,500 stores toward 7,000, supported by omnichannel operations, supply-chain integration and fast store payback.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite its leading organised-eyewear position. It expects growth from a potential expansion from 2,500 to 7,000 India stores, integrated supply chain, omnichannel sales and improving margins.
Why this matters
The signal reinforces recent coverage that HSBC initiated Lenskart at Hold while outlining a 7,000-store India target, and another recent signal that highlighted the same runway alongside limited upside.
Store-opening is steady at 1,565 signals in 90 days; QoQ change was not provided.