Lenskart shares hit record high, stock now up 31% from IPO price; should you hold or book profit?

Shares of Lenskart Solutions Ltd surged in Thursday's trade, rising 12.87 per cent to hit an all-time high of Rs 526.35. At this level, the stock has climbed 30.93 per cent from its initial public offering (IPO) price of Rs 402. The company had made its market debut on November 10 last year. The sharp rally followed a strong third-quarter performance (Q3 FY26). The eyewear retailer reported a consolidated net profit of Rs 131.03 crore for the quarter ended December, marking a near 70-fold or 6,982.7 per cent year-on-year (YoY) jump compared with Rs 1.85 crore in the corresponding period last year. Consolidated revenue rose 37 per cent YoY to Rs 2,307.7 crore, driven by a 29 per cent increase in eyewear units sold. Market experts noted that the company's Q3 results were largely decent, though some advised investors to consider booking profits at current levels. For fresh entries, one of them suggested waiting for a dip. "Q3 numbers have been pretty good. Overall, the company has done well and, with the legacy post-IPO issues now behind it, these may not affect the stock's movement. The market will now focus on earnings growth, and the management commentary has also been positive. Those looking to enter the stock should wait for a small correction. The stock has moved up sharply today, and after a few sessions, we may see some selling pressure. At that point, one could consider buying it. I think the next two quarters are crucial for the company," market expert Avinash Gorakshakar told Business Today. "Lenskart has posted a good set of numbers in Q3. Given the kind of current valuation, one can consider booking some profit from the table. At present, valuations appeared stretched from a medium- to short-term. The stock is suitable for investors with a high-risk appetite," stated Kranthi Bathini, Equity Strategist at WealthMills Securities. Ravi Singh, Chief Research Officer at Mastertrust, also advised investors to book some profits, as the stock may face strong resistance at Rs 530, citing an unfavourable risk-reward ratio. Gaurang Shah, Senior Vice-President at Geojit Financial Services, said, "The quarterly numbers look quite good, and that is the reaction we are seeing in the stock today." He noted that the sector in which Lenskart operates is highly competitive, with companies facing stiff competition from the unorganised segment. With that being said, he did not issue any formal 'Buy', 'Sell', or 'Hold' recommendation, but advised caution at the current levels.