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HSBC sees 19% downside in Zomato stock; cuts rating to reduce

As life normalises post-COVID, HSBC predicts a sharp growth in volumes, led by office orders coming through. However, that would also mean AOVs moderating

Topics
Zomato | HSBC

Puneet Wadhwa  |  New Delhi 

Zomato, food delivery
Zomato, food delivery

After a stellar listing in July that saw its market-capitalisation (market-cap) hit the Rs 1 trillion mark, analysts now seem to be turning cautious on the stock of food delivery major . In a report dated August 4, has cut its rating on to ‘reduce’ and has maintained a price target of Rs 112 on the stock, translating into a downside of Rs 26, or 19 per cent, from the current levels.

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First Published: Wed, August 04 2021. 15:04 IST
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