Velocity Idea : Zomato Ltd For Target Rs. 360 - Motilal Oswal Wealth Management
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Zomato Ltd
Key Triggers:
* Zomato last month got included in Sensex, a first for new-age firms, as its food delivery business stabilizes. Aggressive Blinkit expansion continues, focusing on deeper presence, & new product categories.
* Zomato raised Rs. 8,500cr via QIP to invest in Blinkit for expanding its dark store network, targeting 1,000 stores by FY25 to solidify its leadership in quick commerce.
* For 2HFY25, we expect revenue/ adj. EBITDA to grow by 68.5%/123.0% YoY, driven by a steady increase in food delivery margins, and quick commerce business nearing breakeven.
Technical View:
* Stock has given a consolidation breakout at life time highs and is perfectly respecting its 100 DEMA.
* ADX Line is rising which suggest the bullish trend has strength to support it.
Buy Zomato Ltd CMP 298 SL 270 Target 360
For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
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