Zomato zooms 13% after strong Q2 show but brokerages are not smacking lips

Despite the strong quarterly performance, brokerage firms are not too excited over the counter and have mixed ratings on the new-age stock. ICICI Securities believes that the management’s guidance towards attaining EBITDA-breakeven for Zomato business by Q1FY24 would require careful calibration of employee expenses and marketing spends.

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