News

Swiggy $1.4 billion IPO opens for orders as Indian stocks lose some of their appeal  Indian food and grocery delivery firm Swiggy is expected to see just modest demand from retail investors for its $1.4 billion IPO even after cutting its hoped-for valuation twice, with momentum for domestic stocks having cooled considerably. The country's second-largest IPO for the year opened for bids on Wednesday with orders to be taken until Nov.8. The price range is 371-390 rupees. But while India was an outlier in Asia with a string of high-profile offerings this year, Sw...
Swiggy $1.4 billion IPO opens for orders as Indian stocks lose some of their appeal
Swiggy $1.4 billion IPO opens for orders as Indian stocks lose some of their appeal
Source: Reuters
2024-11-06 02:27:24 pm
Buy Zomato Ltd For Target Rs. 284 By Geojit Financial Services Ltd Solid revenue; Favourable outlook Zomato Ltd is a leading food delivery aggregator in India, with a presence in 23 other countries. * In Q2FY25, revenue surged 68.5% YoY to reach Rs 4,799cr, driven by strong performance in key segments. * The India food ordering and delivery segment witnessed a 30.1% YoY increase in revenue to Rs 2,012cr, whereas Hyperpure and quick-commerce businesses saw an increase of 97.7% and 128.9% YoY, respectively. * EBITDA stood at Rs 226cr, largely driv...
Buy Zomato Ltd For Target Rs. 284 By Geojit Financial Services Ltd
Buy Zomato Ltd For Target Rs. 284 By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-10-31 12:31:31 pm
India's Zomato misses Q2 profit estimates, hurt by store expansion costs Indian food and grocery delivery firm Zomato reported a smaller-than-expected rise in second-quarter profit on Tuesday as the company added more new stores, which weighed on margins. Its consolidated net profit rose to 1.76 billion rupees ($20.94 million) in the quarter ended Sept. 30, from 360 million rupees a year earlier. Analysts, on average, had expected a profit of 2.70 billion rupees, according to data compiled by LSEG. The company also approved raising up to 85 billion rupees...
India's Zomato misses Q2 profit estimates, hurt by store expansion costs
India's Zomato misses Q2 profit estimates, hurt by store expansion costs
Source: Reuters
2024-10-22 04:05:34 pm
Buy Zomato Ltd For Taget Rs.300 By Motilal Oswal Financial Services Ltd Solidifies going-out offering with acquisition Miniscule impact on overall numbers, but an important step toward capturing a higher wallet share from urban consumers Zomato has decided to acquire Paytm’s entertainment and ticketing business for INR20.5b (1x EV/TTM GMV). As a part of its going out business, Zomato currently offers dine-out table bookings and a few live ticketing events whereas Paytm’s platform offers ticket bookings for movies, sports and live events, which will...
Buy Zomato Ltd For Taget Rs.300 By Motilal Oswal Financial Services Ltd
Buy Zomato Ltd For Taget Rs.300 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-08-24 09:32:27 am
Neutral Tata Steel Ltd For Target Rs. 180 By Motilal Oswal Financial Services Revenue in line; marginal beat on earnings driven by lower costs * Tata Steel (TATA)’s revenue stood at INR330b (-7% YoY/-10% QoQ), largely in line with our estimate of INR340. Lower volumes and weak realization led to the QoQ decline. ASP stood at INR66,720/t (-10% YoY/-1% QoQ) vs. our estimate of INR68,815/t. * EBITDA was INR68b (+2% YoY/-16% QoQ), marginally better than our estimate of INR66b, thanks to lower input costs. * EBITDA/t came in at INR13,711/t (-2%...
Neutral Tata Steel Ltd For Target Rs. 180 By Motilal Oswal Financial Services
Neutral Tata Steel Ltd For Target Rs. 180 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-08-11 09:32:27 am
Buy Zomato Ltd For Target Rs. 300 By Motilal Oswal Financial Services Food delivery business stable & medium-term visibility strong * Zomato delivered another strong quarter as 1QFY25 revenues of INR42.06b grew 18.1% [QoQ, ahead of our estimate of 6.9% QoQ growth. Growth was led by Hyperpure/Blinkit (up 27.4%/22.5% QoQ). Food delivery also performed well with revenue growth of +11.7% QoQ on the back of healthy order volume. Adj. EBITDA margin of 6.6% missed our estimate of 7.4%. PAT came in at INR2.5b (est. INR2.1b) vs. INR1.7b in 4QFY24. * Food deliv...
Buy Zomato Ltd For Target Rs. 300 By Motilal Oswal Financial Services
Buy Zomato Ltd For Target Rs. 300 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-08-09 04:14:14 pm
India's Zomato rockets to all-time high as Blinkit delivers stellar growth Shares of India's Zomato surged as much as 19% to a record high on Friday, a day after the food delivery company's first-quarter profit blew past expectations, powered by strong growth in its Blinkit grocery delivery business. The stock's surge defied the weakness in the broader market and its 15% increase as of 10:19 a.m. IST put it on course for its best one-day percentage jump since August 2022. At least 9 of the 23 analysts covering Zomato raised their target price on th...
India's Zomato rockets to all-time high as Blinkit delivers stellar growth
India's Zomato rockets to all-time high as Blinkit delivers stellar growth
Source: Reuters
2024-08-02 11:13:33 am
India's Zomato surges past Q1 profit estimates as Blinkit serves growth India's Zomato reported a bigger-than-expected increase in quarterly profit on Thursday, boosted by strong demand for its food and grocery delivery services. The company's consolidated net profit rose to 2.53 billion rupees ($30.22 million) in the April-June quarter from 20 million rupees a year earlier. Analysts, on average, had expected a profit of 2.15 billion rupees, according to LSEG data. Quick commerce companies such as Zomato's Blinkit, the Tata group-owned BigBas...
India's Zomato surges past Q1 profit estimates as Blinkit serves growth
India's Zomato surges past Q1 profit estimates as Blinkit serves growth
Source: Reuters
2024-08-01 03:59:22 pm
Singapore`s Temasek eyes $10 bn investment in resilient India As the Indian economy remains resilient on its way to become the world’s third-largest one sooner than expected, Singapore's sovereign wealth fund Temasek is aiming to invest an additional over Rs 83,000 crore (about $10 billion) in the country in the next three years.  The potential sectors Temasek is eyeing for investment in India are healthcare, consumption, financial services, digitisation and sustainability, according to reports. Ravi Lambah, Temasek's head of In...
Singapore`s Temasek eyes $10 bn investment in resilient India
Singapore`s Temasek eyes $10 bn investment in resilient India
Source: IANS
2024-07-16 11:56:23 am
Zomato, Swiggy hike platform fee to Rs 6 per order Food delivery platforms Zomato and Swiggy have once again hiked platform fee to Rs 6 per order from an earlier Rs 5 — a 20 per cent increase. Currently being charged in Delhi and Bengaluru, the platform fee is different from delivery fee, goods and services tax (GST), restaurant charges and handling charges. The higher platform fee will roll out to other cities as well. The platform fee goes to the food aggregators to apparently control costs and increase revenues. In April,...
Zomato, Swiggy hike platform fee to Rs 6 per order
Zomato, Swiggy hike platform fee to Rs 6 per order
Source: IANS
2024-07-15 10:01:18 am
Buy Zomato Ltd For Target Rs.230 By JM Financial Services ESOP cost no longer one-off post approval of new policy Zomato’s shareholders have approved Employee Stock Option Plan 2024 (ESOP 2024) that would enable grant of ~183mn stock options to its group employees. The dilution impact for existing shareholders on a fully diluted basis would be c.2%. While we had already trimmed our reported earnings forecasts (refer 4QFY24 results note) to factor in the ESOP 2024 costs, we were yet to factor in the impact in our valuations assuming them to ...
Buy Zomato Ltd For Target Rs.230 By JM Financial Services
Buy Zomato Ltd For Target Rs.230 By JM Financial Services
Source: JM Financial Services
2024-07-11 01:45:48 pm
Buy Zomato Ltd For Target Rs. 250 By JM Financial Services Discussions ongoing for Paytm’s events & movies business Zomato and Paytm (SELL; TP INR 300) in their respective filings with the exchanges have confirmed media reports that they are in active discussions for transfer of the latter’s movies and events business to the former. However, both mentioned that currently there is no binding agreement that would necessitate additional disclosures or board approval. As per the aforementioned media reports, the potential deal value co...
Buy Zomato Ltd For Target Rs. 250 By JM Financial Services
Buy Zomato Ltd For Target Rs. 250 By JM Financial Services
Source: JM Financial Services
2024-07-08 06:15:36 pm
Buy Zomato Ltd For Target Rs. 230 By Emkay Global Financial Services Blinkit continues to drive outperformance Zomato posted steady operational results, with revenue ahead of our estimates whereas the margin miss was on account of higher than expected ESOP costs (for the Blinkit leadership team). Food delivery GOV grew 28.5% YoY to Rs84.4bn (-0.6% QoQ), with Blinkit GOV up 13.7% QoQ/96.8% YoY to Rs40.3bn. Blinkit achieved operational EBITDA break-even in Mar-2024. Management guided to Blinkit remaining closer to break-even levels at adjusted EBITDA for the ...
Buy Zomato Ltd For Target Rs. 230 By Emkay Global Financial Services
Buy Zomato Ltd For Target Rs. 230 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-07-08 11:58:38 am
Buy Zomato Ltd. For Target Rs.220 - Geojit Financial Services Ltd Stellar growth ahead for Zomato Zomato Ltd is a leading food delivery aggregator in India, with a presence in 23 other countries. * In Q4FY24, revenue surged 73.3% YoY to reach Rs 3,562 crore, driven by robust performance across key segments. . * EBITDA stood at Rs 86 crore, propelled by a rise in topline, introduction of platform fees, higher average order values and effective cost management. * Zomato expects strong growth in its food delivery and quick commerce businesses. Risi...
Buy Zomato Ltd. For Target Rs.220 - Geojit Financial Services Ltd
Buy Zomato Ltd. For Target Rs.220 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-06-17 09:51:10 am
In talks with Paytm to acquire its movies and events biz: Zomato Online food delivery platform Zomato on Sunday confirmed that it is in discussions with financial services major Paytm for acquiring its movies and ticketing business but “no binding decision has been taken at this stage”.  In a stock exchange filing, the company said the discussion to acquire Paytm’s movies and ticketing business is being undertaken “with an intent to further strengthen our Going-out business and is in line with our stated position of focusing...
In talks with Paytm to acquire its movies and events biz: Zomato
In talks with Paytm to acquire its movies and events biz: Zomato
Source: IANS
2024-06-17 09:15:22 am
Buy Zomato Ltd For Target Rs.280 By Elara Capital ESOP charges play spoilsport Food delivery segment: Mild surprise in growth Zomato’s (ZOMATO IN) food business continued to report strong growth, ahead of industry averages. GOV/revenue grew 22.5% YoY/40.3% YoY in FY24. Expect momentum to continue with GOV/revenue CAGR of 18%/21% in FY24-26E, led by drivers such as: 1) increased frequency, 2) user growth, 3) ad revenue, and 4) higher platform fee. The management largely maintained its guidance of adjusted EBITDA breaching 4-5% nea...
Buy Zomato Ltd For Target Rs.280 By Elara Capital
Buy Zomato Ltd For Target Rs.280 By Elara Capital
Source: Elara Capital
2024-06-05 03:12:36 pm
Buy Zomato Ltd For Target Rs. 200 - JM Financial Institutional Securities Zomato reported a very strong quarter in 3Q, as most headline numbers were either in line or ahead of JMFe, amidst tough macros. Guidance was also robust, with the management suggesting 50%+ YoY growth in Consol. Adj. Revenue in the near term (vs. 40%+ guided in the medium term earlier), while also retaining its Adj. EBITDA break-even guidance for Blinkit by 1QFY25. Food delivery GOV grew a decent 6.3% QoQ (+27% YoY, broadly in-line JMFe), a marginal miss on guidance. Blinkit, on the other ha...
Buy Zomato Ltd For Target Rs. 200 - JM Financial Institutional Securities
Buy Zomato Ltd For Target Rs. 200 - JM Financial Institutional Securities
Source: JM Financial Services
2024-04-28 09:34:51 am
Buy Zomato Ltd For Target Rs.200 By JM Financial Services Zomato reported a very strong quarter in 3Q, as most headline numbers were either in line or ahead of JMFe, amidst tough macros. Guidance was also robust, with the management suggesting 50%+ YoY growth in Consol. Adj. Revenue in the near term (vs. 40%+ guided in the medium term earlier), while also retaining its Adj. EBITDA break-even guidance for Blinkit by 1QFY25. Food delivery GOV grew a decent 6.3% QoQ (+27% YoY, broadly in-line JMFe), a marginal miss on guidance. Blinkit, on the other ha...
Buy Zomato Ltd For Target Rs.200 By JM Financial Services
Buy Zomato Ltd For Target Rs.200 By JM Financial Services
Source: JM Financial Services
2024-04-07 10:45:21 am
'Pure veg mode' fleet will also wear colour red: Zomato CEO Facing flak over his decision to launch a ‘pure veg mode,’ Zomato Co-founder and CEO Deepinder Goyal on Wednesday said the company has decided to remove the on-ground segregation of its rider fleet on the ground using the colour green. Earlier, the riders for ‘pure veg mode’ were supposed to wear only green uniform, not the Zomato’s colour red. “While we are going to continue to have a fleet for vegetarians, we have decided to remove the on-ground seg...
'Pure veg mode' fleet will also wear colour red: Zomato CEO
'Pure veg mode' fleet will also wear colour red: Zomato CEO
Source: IANS
2024-03-20 11:58:51 am
Accumulate Zomato Ltd For Target Rs. 165 - Elara Capital   Superior execution on all fronts Cricket World Cup and festive season led Q3 beat    Zomato (ZOMATO IN) reported an in-line Q3 as regards food delivery gross order value (GOV), up 27% YoY, led by the positive impact from Cricket World Cup (CWC) and festive season (refer ‘Consumption to wax with Cricket World Cup dated 18 September 2023). ZOMATO was the biggest beneficiary of CWC 2023, as global QSR chains saw an SSSG dip...
Accumulate Zomato Ltd For Target Rs. 165 - Elara Capital
Accumulate Zomato Ltd For Target Rs. 165 - Elara Capital
Source: Elara Capital
2024-03-10 09:05:54 am
Buy Zomato Ltd For Target Rs.135 - Motilal Oswal Financial Services Another quarter of strong beat; Blinkit continues to surprise Medium-term visibility remains strong; reiterate BUY * Zomato delivered another good quarter, with 2QFY24 revenue growth of 18% QoQ (INR28.5b) beating our estimates of 11% growth. Growth was led by Blinkit, up 31.5% QoQ. The food delivery business also outperformed, with revenue growth of +12.7% QoQ on the back of strong order volume. * Adj. EBITDA margin at 3.0% missed our estimate of 3.6%, partly due to lower profitabili...
Buy Zomato Ltd For Target Rs.135 - Motilal Oswal Financial Services
Buy Zomato Ltd For Target Rs.135 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2023-11-28 11:30:19 am
Buy Zomato Ltd For Target Rs.140 - Emkay Global Financial Service Zomato delivered yet another impressive performance, with strong growth across segments. Food Delivery growth was solid for the second consecutive quarter, aided by demand uptick, strong execution, and growing adoption of the Gold program, which led to higher order volumes. Contribution margin for food delivery also saw an uptick to 6.6% from 6.4% in Q1. Blinkit GOV bounced back sharply by 29% QoQ, after temporary disruptions in Q1. Blinkit also managed to turn contribution-positive for the f...
Buy Zomato Ltd For Target Rs.140 - Emkay Global Financial Service
Buy Zomato Ltd For Target Rs.140 - Emkay Global Financial Service
Source: Emkay Global Financial Services
2023-11-16 02:48:58 pm
Buy Zomato Ltd For Target Rs.155 - JM Financial Institutional Securities Gold program accelerates food delivery GOV growth Zomato’s sequential GOV expansion in food delivery (+9% QoQ vs. JMFe of +4%) as well as Blinkit (+29% QoQ vs. JMFe of +17%) businesses in 2QFY24 surprised us positively. Another positive surprise was the near-doubling of the company’s Gold membership program from 2mn to 3.8mn, in a matter of just one quarter, amidst muted growth trends in the underlying industry and intensified competitive intensity. In fact, Gold subscribers no...
Buy Zomato Ltd For Target Rs.155 - JM Financial Institutional Securities
Buy Zomato Ltd For Target Rs.155 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
2023-11-15 11:20:22 am
Buy Zomato Ltd For Target Rs.155 - JM Financial Institutional Securities Zomato’s sequential GOV expansion in food delivery (+9% QoQ vs. JMFe of +4%) as well as Blinkit (+29% QoQ vs. JMFe of +17%) businesses in 2QFY24 surprised us positively. Another positive surprise was the near-doubling of the company’s Gold membership program from 2mn to 3.8mn, in a matter of just one quarter, amidst muted growth trends in the underlying industry and intensified competitive intensity. In fact, Gold subscribers now contribute c.40% to Zomato’s food delivery GO...
Buy Zomato Ltd For Target Rs.155 - JM Financial Institutional Securities
Buy Zomato Ltd For Target Rs.155 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
2023-11-11 10:49:25 am
Zomato logs Rs 36 cr net profit in Q2, sales up 71% to Rs 2,848 cr  Online food delivery platform Zomato said on Friday that it registered Rs 36 crore as profit after tax (PAT) in the quarter ending September 30, as its revenues surged 71 per cent to Rs 2,848 crore. The online platform had registered a net loss of Rs 302 crore with revenues at Rs 1,661 crore in the same period last year. "We think that QoQ GOV growth in food delivery in the next quarter should be moderate -- around high single digit which should translate to about 25-30 per c...
Zomato logs Rs 36 cr net profit in Q2, sales up 71% to Rs 2,848 cr
Zomato logs Rs 36 cr net profit in Q2, sales up 71% to Rs 2,848 cr
Source: IANS
2023-11-03 03:34:25 pm
SoftBank to sell 1.1% stake in Zomato for Rs 1,024 crore Japanese investment giant SoftBank's venture capital fund SVF Growth is reportedly set to sell 1.1 per cent stake in food delivery platform Zomato for around Rs 1,024 crore.The sale via a bulk deal is likely to see the offer price at Rs 109.4-Rs 111.65 per share, reports CNBC TV18, citing sources.Zomato or SoftBank did not officially comment on the upcoming bulk deal.Zomato's shares on BSE closed 1.6 per cent lower at Rs 111.40 per share on Thursday.In August, SoftBank had sold a partial stak...
SoftBank to sell 1.1% stake in Zomato for Rs 1,024 crore
SoftBank to sell 1.1% stake in Zomato for Rs 1,024 crore
Source: IANS
2023-10-20 09:18:05 am
Buy Zomato Ltd For Target Rs.115 - JM Financial Institutional Securities Our channel checks suggest macro pressures continued to weigh on demand for online food delivery in Sep-Q. Competitive intensity also appears to have picked up following Swiggy?s (Unlisted) announcement of a shift in focus back to growth over profitability. During the quarter, we noted a sharp reduction in loyalty membership fees (for a select few users) by both Zomato as well as Swiggy. The latter also launched a co-branded credit card with a leading bank that is likely an attempt to ac...
Buy Zomato Ltd For Target Rs.115 - JM Financial Institutional Securities
Buy Zomato Ltd For Target Rs.115 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
2023-10-04 03:52:17 pm