Nuvama has maintained a ‘buy’ rating on Zomato, raising the target price to Rs 325, citing growth momentum and faster Blinkit dark store additions. However, profitability may need more upfront costs. Conversely, Macquarie retains an underperform rating, highlighting concerns over margin expansion and unit economics amid rising competition.
Posts in category Economic Times
F&O Radar| Deploy Bear Put Spread in Nifty to gain from bearish stance, market volatility (23-10-2024)
The Nifty Index faced intense selling on Tuesday, breaking 24,450 zones and closing below 24,500 with a loss of around 310 points. Chandan Taparia suggests weakness will continue if it stays below 24,500, with targets at 24,350 and 24,200. A Bear Put Spread strategy is recommended for traders expecting further decline.
Paytm shares pop 5% after receiving NPCI nod to onboard new UPI users (23-10-2024)
Paytm Share Price: Shares of One 97 Communications’ Paytm rose 5% on NPCI’s approval for onboarding new UPI users, post-RBI’s earlier restrictions. NPCI’s nod mandates compliance with various guidelines. Paytm also reported a significant PAT boost in Q3 FY2024 due to a one-time gain from selling its entertainment ticketing business to Zomato.
Godavari Biorefineries IPO opens for subscription. Should you bid? (23-10-2024)
Godavari Biorefineries’ IPO opens for subscription with a price band of Rs 334-342 per share. The IPO includes a fresh issue of Rs 325 crore and an OFS of up to 6.53 million shares. The company grapples with significant debt and has seen recent financial challenges despite industry leadership in ethanol-based specialty chemicals.
Indus Towers shares in focus after Bharti Airtel gets CCI nod to raise stake in co (23-10-2024)
Shares of Indus Towers are expected to attract attention after the Competition Commission of India approved Bharti Airtel’s plan to increase its stake following a share buyback. The buyback, initiated on August 14, involves acquiring over 5.67 crore shares at Rs 465 each, representing about 2.107% of total equity.
Goldman Sachs cuts Indian stocks to neutral on slowing growth (23-10-2024)
Goldman Sachs has revised Indian equities from overweight to neutral due to slowing economic growth and weakening corporate earnings. High valuations and declining consumer spending contribute to a cautious outlook, with a projected 10% upside for the NSE Nifty 50 Index.