According to Chandan Taparia, Head of Derivatives & Technicals at Motilal Oswal Financial Services Ltd., the Indian benchmark indices are tracking key technical pivots closely after facing resistance at higher levels. The Nifty 50 closed below the crucial 23,350 zone in the previous session, forming a Doji-like candle on the daily chart while printing a bearish candle on the weekly timeframe. As reported by Essential Business Intelligence, if Nifty holds above 23,350, an upside move could materialize towards 23,500 and then 24,600 levels, while failure to sustain below 23,350 could invite weakness towards 23,200, followed by 23,100 zones. The Nifty index opened on a positive note in the prior session but remained confined within a narrow range during the first half amid rangebound momentum, ultimately closing below the crucial 23,350 zone.
Lenskart shares have surged nearly 80% since listing, taking the company's valuation close to Ronnie Screwvala's $15 billion call made during the IPO. The stock's remarkable performance has attracted significant attention from major brokerages, with Jefferies initiating coverage with a 'Buy' rating and price target of ₹680, implying approximately 15% upside from current levels. Nomura has set an even more ambitious target of ₹888, suggesting a whopping 40% upside potential, while Motilal Oswal maintains a 'Buy' rating with a revised target of ₹800, implying close to 16% upside. The brokerages cite Lenskart's unique position as India's largest tech-driven eyewear retailer with just 5% market share and strong growth potential, with analysts now viewing it as "one to keep for generations" or the "next Ray-Ban."
According to brokerage analysis, Lenskart has the potential to deliver EPS growth of 49% annually on a compounded basis between FY26-FY29, with the company targeting over 10,000 stores across 6,400 pincodes over the medium term. The company currently operates 2,725 stores and has generated free cash flow in FY26 and Q1 FY27 despite upfront capex expenses. Motilal Oswal estimates that Lenskart could generate approximately ₹32 billion cumulative free cash flow over FY26-FY29, which the company could use to fund accelerated store additions and expand into new international markets. The company's "house-of-brands architecture" spanning mass to premium eyewear, combined with its vertically integrated omni-channel model, ensures cost efficiency, rapid delivery, and superior customer experience.
