HSBC's April 'Hold' call on Lenskart resurfaces despite 7,000-store expansion plan
Resurfacing an April 2026 move, HSBC had initiated coverage on Lenskart with a 'Hold' rating and Rs 513 target (~2% upside), citing full valuation even as fundamentals stay strong. The brand plans to nearly triple its India footprint to ~7,000 stores from ~2,500, leaning on an integrated model, sub-year store payback, and omnichannel plus international growth.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong fundamentals. It flags plans to expand to ~7,000 India stores from ~2,500, integrated model as a moat, and omnichannel/international growth drivers.