HSBC sees Lenskart’s India network scaling to 7,000 stores, resurfacing its April 2026 Hold-rating coverage start
Resurfacing an April 2026 move, HSBC initiated coverage of Lenskart with a Rs 513 target and Hold rating, citing limited upside despite strong store economics. The broker sees potential for the eyewear retailer to grow its India network from about 2,500 stores to 7,000, supported by omnichannel operations and a growing organised market.
HSBC initiated Lenskart at Hold with a Rs 513 target, citing valuation constraints despite strong store economics. It expects Lenskart to potentially expand from about 2,500 to 7,000 India stores, supported by omnichannel retail, integrated supply chain and eyewear-market growth.
Why this matters
Lenskart’s signal follows recent items on HSBC’s April Hold call and its 7,000-store India runway, including coverage of scaling from 2,500 stores despite limited upside.
Store-opening is steady at 1,773 signals over 90 days; no QoQ change figure is provided in the input.