Zomato share price: CLSA has reiterated its bullish stance on Zomato, adding the stock to its “High Conviction Overweight” list and raising the target price to Rs 400 from Rs 370, indicating a 64% upside potential. The brokerage sees the recent stock correction as an attractive buying opportunity and expresses strong confidence in the growth prospects of Zomato’s quick commerce segment over the next three years.
Jefferies unleashes value hunt: 11 buy stocks including 3 Adani bets as India market hits stretched valuations
This sharp change occurs as Indian markets now trade at an 82% premium to other emerging markets, well above the 10-year average of 63%. Additionally,