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Meesho Dips 4% on Nomura 'Reduce' Rating; LCC Projects Jumps 4% on Project Win
M
Moneycontrol•25-09-2026, 09:56
Meesho Dips 4% on Nomura 'Reduce' Rating; LCC Projects Jumps 4% on Project Win
- •Meesho shares fell 4% after Nomura initiated coverage with a 'reduce' rating and a target price of ’167, despite acknowledging its role in India's online value-commerce market.
- •LCC Projects advanced 4% after becoming the L-1 bidder for the Chhoti Kalisindh Medium Irrigation Project in Rajasthan, valued at ’653.34 crore.
- •Dr Lal PathLabs share price dropped 1% following the board's approval to acquire a 70% stake in SN Genelab for up to ’168 crore.
- •Sterlite Technologies gained 3% after enhancing its Neuralis Data Center portfolio with new pre-terminated fibre trunk assemblies, targeting hyperscale and enterprise data centers.
- •The broader market saw declines, with the Nifty Midcap 100 falling 0.4% and the Nifty Smallcap 100 shedding 0.2%, while most sectoral indices traded lower except metal and pharma.
Key Questions Answered
Meesho shares dropped 4% after global brokerage firm Nomura initiated coverage on the stock with a 'Reduce' rating and a target price of ₹167.
Dr Lal PathLabs' board approved acquiring a 70% stake in SN Genelab for up to ₹168 crore, with the transaction expected to be completed by November 30, 2026.
LCC Projects emerged as the L-1 bidder for the Chhoti Kalisindh Medium Irrigation Project in Rajasthan, with an estimated value of ₹653.34 crore.
