ZOMATO PREMIUM LISTING
States may allow home delivery of liquor through quick commerce platforms like Swiggy, BigBasket, and Zomato
Deliveries were allowed temporarily during the Covid-19 lockdowns in Maharashtra, Jharkhand, Chhattisgarh and Assam with restrictions. However, now legitimate deliveries of alcobev are not allowed in these states, even though a few local online platforms continue to deliver, especially in Maharashtra.
Hot Stocks: Brokerage take on TCS, Zomato, Federal Bank, ABB, Vedant Fashions and Prestige Estates
Jefferies upgraded TCS post Q1 earnings, increasing its target. UBS reviewed Zomato, Federal Bank, and ABB India. Morgan Stanley reaffirmed 'Buy' for Prestige Estates, while Axis Capital downgraded Vedant Fashions.
Affle India shares jump 7% after Citi initiates Buy rating, sees 17% upside
Affle (India) shares surged 7% to Rs 1,461.1 on BSE after Citi initiated a 'Buy' rating with a target price of Rs 1,600, suggesting a 17% potential upside. Citi expects Affle to benefit from rising mobile-ad budgets in India and EM.
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.
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.
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.”
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.
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.
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