We hereby initiate our coverage on this stock and assign a BUY rating on the stock with a target price of Rs. 170 based on 25x FY23E P/Sales. Market leader in the food aggregator space in India As a first mover into online food delivery, Zomato has been at the forefront of the race and has managed to maintain a leadership position in the domestic market. Backed by analytics driven and user-friendly technology and operating primarily through its app, the company has witnessed robust engagement with its customer base as well as its network of partner restaurants, which has thereby translated to a steady rise in orders...