Buy This Services Sector Stock For 54% Return, Target Price Rs 100: Kotak Securities
Kotak Securities has given buy call to services sector stock, Zomato Ltd with a target price of Rs 100. The shares have declined 56% in last 1 year. The analyst expects that shares will potentially jump 54%.
The current market price of the stock is Rs 65 apiece. If you buy Zomato at the current market price of today, you are set to receive 54% return.
Zomato has captured incremental GMV market share from Swiggy and Swiggy's q- commerce revenue growth led by higher take- rates. Check vital details below:
1. Zomato Ltd Stock Performance
The current market price of the stock is Rs 65.50 apiece with a gain of 0.46% in morning trade. The stock's 52- week high is Rs 157 apiece and 52- week low is Rs 40 apiece, respectively.
2. Zomato Ltd Return
The stock has given a return of 5% in last 3- months, 4% in last 1- month, and again 4% in 1- week. The stock has fallen 56% in last 1- year.
3. Zomato Ltd Positives
Zomato has gained market share in food delivery business. Zomato's H 1 CY 2 2 GMV stood at ~ US$180 cr, higher than Swiggy. Zomato has a higher geographical reach than Swiggy. Zomato is present in 1,000 + cities and Swiggy in 562 cities.
Amazon has shut Indian food delivery business, following cost- cutting measures
4. Zomato Ltd Negatives
The blended take- rates for Swiggy appear to be higher than Zomato.
5. About Zomato Ltd
Zomato Limited is a leading online restaurant guide and food ordering platform. Launched in 2010, its technology platform connects customers, restaurant partners and delivery partners, serving their multiple needs.
The food ordering platform serves customers all across the globe.
The stock has been picked from the brokerage report of Kotak Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. advises users to check with certified experts before taking any investment decision.
By Renu Baliyan Goodreturns source: Dailyhunt