Citing the rapid growth of the quick commerce (QC) economy, brokerage firm Bernstein has maintained its ‘Outperform’ rating on Zomato and revised its target price to Rs 330, suggesting an upside potential of 16% from the previous day’s closing price of Rs 283.9. Bernstein points out that initial assumptions about QC, such as it being … Read more
Shares of Zomato rose 3% in Thursday’s early session to its day’s high of Rs 280.65, inching towards its all-time high level after the global brokerage firm UBS maintained a buy rating on the stock with a target price of Rs 320 on the back of company’s growth optimism. UBS in its note stated that … Read more
Shares of Zomato rallied 7.6% on the BSE today, reaching an intraday high of Rs 261.50, after JPMorgan raised the stock’s target price to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan stated that Zomato is leading rapid retail consumer transformation through convenience-focused Quick Commerce. The company is expanding its presence across … Read more
The markets continued their upward momentum, gaining nearly half a percent on Tuesday. In today’s trade, shares of Zomato, Cyient DLM, L&T, Petronet LNG, NHPC among others will be in focus due to various news developments. ZomatoAntfin Singapore Holding has sold Zomato shares worth Rs 4,771 crore via block deals on Tuesday. The stake sale, … Read more
Shares of the food aggregator Zomato fell by 2% to a day’s low of Rs 257.10 on the BSE in the early trading session after Antfin Singapore reportedly sold a 2.4% stake in the company via a block deal. According to reports, approximately 21 crore shares, representing a 2.4% stake in the online food delivery … Read more
Benchmark indices ended on a flat note in a lacklustre trade on Monday, as investors preferred to remain on the sidelines awaiting further triggers. In today’s trade, shares of IndusInd Bank, Zomato, Saraswati Saree Depot, HCL Tech, Poly Medicure among others will be in focus due to various news developments. IndusInd Bank IndusInd Bank has … Read more
Antfin Singapore will likely sell shares in Zomato worth $408 million at floor price of Rs 251.68 per share via block deal, ET Now reported quoting agencies. It currently holds 4.3% stake in the food delivery platform. At this price, the shares will be available for sale at a discount of 4.6% over Monday’s closing … Read more
Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
Brokerage firms such as Jefferies have a buy rating on ITC and Adani Ports, while Goldman Sachs has a sell call on Sun Pharma. Macquarie has an outperform rating on Zomato, and JP Morgan has a neutral view on Dabur. We have collated a list of recommendations from top brokerage firms from ETNow and other … Read more
While noting that Zomato is well ahead of IPO-bound peer Swiggy, global brokerage firm CLSA has a target price of Rs 248 per share on the new-age stock. Prosus, which holds a 32.7% stake in Swiggy, in its annual results release, disclosed that Swiggy’s overall GMV growth (including food delivery, quick commerce, and dining out … Read more
