Resurfacing HSBC's April 2026 call: Lenskart seen scaling to 7,000 India stores, but rated Hold
HSBC's April 2026 initiation report, resurfacing now, gave Lenskart a Hold rating and a Rs 513 target price, citing limited upside at current valuations. The brokerage saw the eyewear retailer expanding its India network from about 2,500 stores to roughly 7,000, supported by fast store payback and organised-market gains.
HSBC initiated Lenskart with a Hold rating and Rs 513 target, saying valuation captures much of its growth potential. It expects the eyewear retailer to expand from about 2,500 to 7,000 India stores, supported by integrated operations and organised-market share gains.
Why this matters
The resurfaced call follows recent signals on HSBC's 7,000-store initiation and Lenskart's 203-store sprint, which also brought its eyewear rivalry with Titan EyeCare into focus.
Store-opening is steady, with 1,555 signals in the past 90 days.