Zomato shares may rise 22% backed by food delivery, Blinkit’s GMV growth: Kotak Equities

January 9, 2025

Kotak Institutional Equities has maintained a ‘buy’ rating on Zomato with a target price of Rs 305, expecting a 22.3% upside. The brokerage forecasts a 19% YoY growth in Zomato’s food delivery GMV and a 114% growth in Blinkit GMV. While Blinkit’s expansion may lead to widening EBITDA losses, its strong unit economics continue to support long-term growth potential.

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