Resurfacing HSBC’s April call: Lenskart’s India network seen reaching 7,000 stores, but coverage starts at Hold
Resurfacing a move from early April 2026, HSBC had initiated coverage on Lenskart with a Rs 513 target and Hold rating, arguing that much of the growth outlook is priced in. The brokerage saw scope for the eyewear retailer to expand its India network from about 2,500 stores to roughly 7,000, supported by omnichannel operations and sub-one-year store payback.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation captures much of its growth. It expects the eyewear retailer to potentially expand from about 2,500 to 7,000 Indian stores, supported by integrated omnichannel operations and strong store economics.
Why this matters
Recent signals have also revisited HSBC’s April 2026 Hold initiation, focusing on Lenskart’s potential 7,000-store India runway and limited upside despite expansion potential.
Store-opening is steady, with 1,778 signals in the past 90 days; QoQ change was not provided.