INSUBCONTINENT EXCLUSIVE:
Zomato's stock rises even as brokerages have mixed ratings on itDespite the online food delivery giant Zomato reporting a net loss of Rs
Several brokerages have given mixed ratings on its stock
Let's have a look at some of the comments from brokerage firms on Zomato's share.Jeffries said that Zomato's delivery business was
stable, the dining out segment was hit by the second wave of the Coronavirus pandemic
Year-on-year numbers of the company are "very strong" despite the impact of first wave of the pandemic.The brokerage firm has given a "Buy"
delivery business has shown growth, yet despite this, Zomato saw a lot contraction in its order segment during the first quarter of the
current financial year."Zomato has attributed decline in contribution in the first quarter due to costlier business environment in the
cost," said the brokerage firm while giving a "Sell" rating on its stock with a target price of Rs 90 per share.
