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Axis Securities Report
We expect Zomato Ltd. to strengthen its presence in the food-delivery market and gain market share through its continuous adoption of new technology and bringing new innovations in the food-delivery business.
This will continue to drive more number of users to the platform. Against this backdrop, we initiate coverage on the stock with a Buy rating and value the company on SOTP valuation to arrive at a target price of Rs 280/share, implying an upside of 23% from the current market price.
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