Take share of Zomato, you will get strong returns. The price is only 65 rupees. You will get up to 100% return

pIn the last two and a half months, Zomato’s shares have climbed 62%. The company’s shares were at Rs 40.55 on July 27 this year, which has closed at Rs 65.60 on BSE on October 11.

Analysts say that Zomato shares can rise up to 91%. Market analysts say that Zomato’s losses on a quarterly and yearly basis may come down in the September quarter. The 52-week high of Zomato’s shares is Rs 169.10.

Losses may be close to Rs 150 crore in September quarter
Analysts say EBITDA losses should come down on the back of higher contribution of food delivery business margins and better revenue mix. Kotak Institutional Equities expects Zomato’s loss to be Rs 149.20 crore in the September 2022 quarter, as against Rs 185.70 crore in the June 2022 quarter and Rs 435.10 crore in the year-ago period. The brokerage house expects Zomato’s sales to grow 48.2% to Rs 1517.90 crore as against Rs 1024.20 crore in the year-ago period. This has been said in a report by Business Today.

Brokerage houses target up to Rs 125

Zomato completed the acquisition of Blinkit in August. Brokerage house Edelweiss expects Zomato’s core loss to be Rs 165.20 crore in the September quarter. The company’s quarterly revenue can reach Rs 1538 crore with a jump of 50%. JM Financial says that Zomato’s loss in the September quarter can be Rs 151.40 crore. JM Financial has given a target of Rs 125 to Zomato shares. The fair value of Zomato to Kotak is Rs 90. At the same time, Edelweiss has valued Zomato at Rs 80. ICICI Direct has launched Zomato coverage on September 28 and has given a target of Rs 90.

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