ZOMATO PREMIUM LISTING
Ecom Express’ rights issue; Google Cloud chief interview
Ecom Express is planning a $170 million rights issue led by existing investors. This and more in today’s ETtech Top 5.
Ixigo IPO pops; AI jobs command premium pay
Ixigo lists at about 50% premium, ends day at 20% upper circuit. This and more in today’s ETtech Top 5.
Hot Stocks: Brokerage view on Zomato, M&M, Vedanta and Infosys
JPMorgan maintained an overweight rating on Zomato with a TP of Rs 208. The brokerage said Zomato has been successful in some acquisitions, like Uber Eats India, Runnr, and Blinkit, while Nomura maintained a buy rating on M&M and raised the TP to Rs 3,374.
Food delivery cos bet on existing users; Infosys CEO interview
Happy Tuesday! With user growth stagnating, Zomato and Swiggy are prodding existing customers to order more. This and more in today’s ETtech Morning Dispatch.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Dare to buy these 8 multibagger stocks trading above 100 PE multiples?
Zomato, CarTrade Tech, Olectra Greentech, Waaree Renewable Technologies, JBM Auto, ABB India, Trent, and Godrej Properties are high PE stocks showing multibagger returns. Consider using various valuation metrics and expert insights for informed investment decisions.
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Ankush Aggarwal returns to Ola Cabs; declining H-1B visas for IT staff
Happy Tuesday! Ola Cabs founder Bhavish Aggarwal’s brother Ankush is back at the ride-hailing business. More on this in today’s ETtech Morning Dispatch.
Stocks in news: Varun Beverages, Zomato, Indegene, Tata Motors, Tata Power, Zydus Life
Shares of Varun Beverages, Zomato, Jindal Steel and Tube Investments will be in focus as the companies will announce their fourth quarter results today.
Will there be a move away from Zomato when Swiggy lists? Rahul Jain explains
Rahul Jain discusses potential impact of Swiggy IPO on competitive landscape, Zomato valuation, and quick commerce sector dynamics. Anticipates changes in competitive intensity, valuation equilibrium post listing, highlighting Blinkit competition and strategic differences between Zomato and Swiggy.
JM Financial raises target price for Zomato by 30% to Rs 260
JM Financial raised Zomato's price target to Rs 260 from Rs 200, citing Blinkit's rapid growth. The firm expects Blinkit to surpass Zomato's food delivery business, emphasizing industry tailwinds and strong balance sheet. Zomato's strategic priorities include expansion of dark-store network and enhancing product offerings.
Will Nykaa's performance tread the Zomato path?
Zomato posted a significant improvement in unit economics/margins which were instrumental in driving upgrades and the consequent stock performance, Nuvama said.
India Inc should support startups: Zomato CEO; Capillary’s funding
Zomato CEO Deepinder Goyal said established businesses in India should nurture startups, but without the intention of owning them. This and more in today’s ETtech Top 5.
Satya Nadella interview; Zomato's restaurant onboarding push
Artificial Intelligence will not only help solve India’s unique structural challenges and help increase productivity and societal benefits, but those solutions for India may turn out to be relevant for the rest of the world as well, Nadella told ET.
Hot Stocks: Brokerage view on Page Industries, Zomato, Lupin and ITC
Macquarie maintained an underperform rating on Zomato with a target price of Rs 76. The company has seen steady margin improvements and strong Quick Commerce growth, it said.
RBI’s tokenisation push for digital currency; Flipkart chief on profitability
Happy 75th Republic Day! To widen the use cases of central bank-backed digital currency (CBDC), the RBI is exploring tokenisation of government bonds and securities. This and more in today’s ETtech Morning Dispatch.
MFs and FIIs increase stakes in 5 out of 6 new-age tech stocks, Zomato among them
New-age consumer technology stocks continue to attract investors on Dalal Street. Mutual funds and foreign institutional investors have increased stakes in five out of the six listed companies in the December quarter. Zomato is the top-performing stock, with a staggering 154% returns in FY24. Paytm, PB Fintech, and Nykaa have also seen an increase in investor interest. Ant Group has exited Zomato, while One97 Communications and Delhivery have trimmed down their losses. Analysts remain positive on Paytm and PB Fintech, but less bullish on Nykaa due to competition in its segments.
These 2 new age tech stocks are favourites of Gautam Shah for 2024
Gautam Shah says: “One has to be very stock specific in this market, but just ensure that you are in stocks which have high institutional interest because there is so much money coming into midcaps and smallcaps, Rs 8,000 crore every month, That will propel many of these stocks higher and they will get re-rated along the way.”
Record run continues! Sensex surges 370 points, Nifty ends above 21,750
Among the Sensex stocks, NTPC, M&M, Power Grid, and Nestle were the top gainers, rising 2-3%. Tata Motors, ITC, Bharati Airtel and HUL also closed higher. On the other hand, L&T, Wipro, UltraTech Cement, and Asian Paints closed in the red.
Flipkart’s $1 billion fundraise; Zomato offers to acquire Shiprocket
Ecommerce giant Flipkart is in the middle of closing a $1 billion funding round in which Walmart has committed $600 million. This and more in today’s ETtech Top 5.
Udaan's fundraise; VC-backed listed tech firms hit $50B market cap
Business-to-business (B2B) ecommerce firm Udaan has raised $340 million through conversion of its debt and fresh equity infusion. This and more in today’s ETtech Top 5.
If we don’t make it large next 10 years, we will miss out on a very large opportunity: Amit Jeswani
“Markets are typically volatile when political risk is there. But FIIs have been sellers. Out of the last seven years, FIIs have been buyers for one year. When FIIs come back, a new growth stock, a new story will get created and stocks can rally multiple times. Look at growth. Look at companies who can do 30%, 40% growth that is where big money can be made.”
Hot Stocks: Brokerages view on Ashok Leyland, Eicher Motors, Zomato and Shriram Finance
CLSA maintained a buy rating on Ashok Leyland with a target price of Rs 238. The CV industry outlook for FY24 is looking strong.
Stocks in news: Zomato, Aster DM Healthcare, PCBL, IREDA, Siemens
Tata Power's renewable energy arm gets a letter of award for development for a 200 MW firm and dispatchable renewable energy project with SJVN.
After Zomato, Paytm, it may be time to look at Nykaa: Andrew Holland
“All the three new-age tech stocks – Zomato, Paytm and Nykaa – have been doing nothing for a little bit as the market was just waiting for confirmation that things are moving back on track. Once that confirmation was there, we have seen all three stocks move up quite significantly.”
On listing day, Honasa founders say they are eyeing a global play for the personal-care company
The company’s initial public offering (IPO) was subscribed 7.6 times the shares on offer, primarily by qualified institutional buyers (QIBs). The retail portion of the issue was also subscribed 1.36 times.
Vinit Bolinjkar is gung-ho on Honasa & says for 2-3 year period, it is a fair deal
“We see drivers out there and the Mamaearth brand which has grown in five years to be one of the largest brands. It definitely makes sense to buy the Honasa stock and their offline portfolio, which is around 35% of the top three brands, which are over Rs 100 crore.”
Paytm's Q2 scorecard; Indian users log on to online festive sales
Fintech major Paytm narrowed its losses for the quarter ended September to Rs 291.7 crore compared with Rs 571 crore in the year-ago period. This and more in today’s ETtech Top 5.
ETSA panel discussion: Focus needed on building new ventures sustainably for public markets
Prashanth Prakash, partner at Accel India, said India’s public markets are one of the best things that the country has to offer to the new economy space, but the ecosystem “lost sight of what it is to practically build a company for the public market”.
Keeping some powder dry now and waiting for earnings season to start: Dipan Mehta
Dipan Mehta believes that the stock with the most potential in the digital arena is Zomato, as it is on track to profitability. Mehta also mentions that the US yield movement is impacting markets in Asia. He expects a quiet period in the domestic market until October, when corporate earnings will have a more significant impact on stock prices. Mehta also discusses the upcoming credit policy, stating that it is likely to be a non-event.
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