Velocity Idea: Buy Zomato Ltd For The Target Rs.86 - Motilal Oswal Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Key Triggerrs
* Zomato with its large strong footprint across 23 countries, is well placed to benefit from the immense potential in the food delivery industry.
* The business is not losing cash anymore. Adj. EBITDA broke-even in food business. At company level, goal is to break-even in Q4FY23, or by 2QFY24,
* Blinkit integration post acquisition went well and it has not lost any market share in the last quarter.
Techincal View
* Stock is at major support zone of its weekly averages and sustaining well above them which is indicating strength.
* Momentum Is building up in a rising channel which adds support to the Stock for the move
Buy Zomato Ltd CMP : 66 Stop Loss:56 Target: 86 Duration:1-3 months StopLoss:15% Upside: 30%
To Read Complete Report & Disclaimer Click Here
For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html SEBI Registration number is INH000000412
Above views are of the author and not of the website kindly read disclaimer
Tag News
Buy Dalmia Bharat Ltd For Target Rs.2,400 - Motilal Oswal Financial Services Ltd
