Eternal Ltd. share price target

Blinkit delivery executives servicing ~50% of the dark stores in the NCR area are on strike since 12thApr’23 demanding roll-back of recent changes made to delivery incentive structures in the region, according to media reports

We note Zomato’s focus shifting to increasing its power users vs penetration-led gains in food delivery. This, we think augurs well for profitable growth. Company has exited 225 cities, which contributed 0.3% of GOV in Q3FY23, which in our view indicates disenchantment with a long tail of sub-scale operations.

Food delivery GOV growth slows as contribution margin improves. Zomato’s food delivery gross order value grew 3.1% QoQ and 22.6% YoY in Q2FY23.

We reinitiate coverage on Zomato with a HOLD rating and target price of Rs65.

Zomato's stock has seen drastic correction owing to macro-economic factors and global volatility. Keeping in view the growth prospects, we feel the stock is available at significant discount and reiterate our BUY rating with a revised target price of Rs. 105 based on 15x FY23E P/Sales....

The mainstay food ordering and delivery business is expected to drive shareholder value creation going forward. The management believes that the food delivery market in India is still nascent, and there is an opportunity to grow the market at least 10x over the next few years. Maintaining a positive outlook, we reiterate our BUY rating on the stock with a target price of Rs. 183 based on 23x FY23E P/Sales. Setting new highs for online food delivery In Q2FY22, as the COVID-19 situation improved significantly in India, overall revenue...