Motilal Oswal has reiterated a “Buy” rating on Zomato stock, claiming it has found “no evidence” of an adverse impact from the Open Network for Digital Commerce (ONDC) on the food delivery app. BofA Securities has taken a more cautious “Neutral” stance, setting a price target of INR72 ($0.96). Though warning ONDC could become a significant risk if it continues to scale up it may still “serve as a key platform in the food delivery space”. In contrast, the high-end users who prefer speedy service on Zomato and Swiggy are not particularly price-sensitive.
2 top stock recommendations from Amit Bhuptani
Currently, we are also seeing that the Fibonacci golden ratio is also coming near 24,400 level. So, closing once Nifty gets above that level on
May 6, 2025