Credit Suisse has maintained its ‘outperform’ rating on the stock, with a target of Rs 90. The brokerage said Zomato is on a clear road to profitability growth. It said that existing core customers would drive the food business. CS said in a duopolistic industry, the core user base will drive margins.
The stock continued to remain the most valued listed company in the country despite the decline.
Domestic equities ended flat on Friday as MPC matched market expectations, while supportive measures announced by the RBI Governor helped strengthen the rupee.
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