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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%

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