BofA Securities maintained its buy rating on the stock with a target price of Rs 82. It said that Zomato had a stable quarter despite headwinds but the overhang from the lock-up expiry remains. "Q1FY23 revenue/EBITDA was better than expectations and adjusted EBITDA was breakeven in the food delivery segment with the focus on cost control clearly visible. The Zomato-Blinkit deal remains on track," it said.
The auto major reported a 20.35 per cent decline in the standalone net profit to Rs 147.5 crore in the quarter ended on June 30, 2022, compared with a profit of Rs 185.2 crore in the corresponding quarter of the previous fiscal year.
In the spot market, the highest purity gold was sold at Rs 51,668 per 10 grams while silver was priced at Rs 58,379 per kg on Monday, according to the Indian Bullion and Jewellers Association.
"Markets have already factored in 35 basis points hike by the RBI on Friday, and expectations of not many hikes after this one has led to strong receiving interest in swaps, especially the five-year part," another trader said.