Brokerage firm Bernstein has upheld its ‘Outperform’ rating on Zomato and adjusted its target price to Rs 330, indicating a potential increase of 16% from the previous day’s closing price of Rs 283.9. The firm attributes this revised outlook to the rapid expansion of the quick commerce (QC) sector. Bernstein notes that initial assumptions about QC—such as its focus on small ‘top-up’ orders, its appeal being limited to metropolitan areas, and its catering mainly to affluent consumers—have been consistently updated each quarter.
Mcap of top-10 most valued firms slumps Rs 4.95 lakh cr; TCS, Reliance hardest hit
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities,
December 22, 2024