Buy Zomato, target price Rs 159: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Zomato Ltd. with a target price of Rs 159. The current market price of Zomato Ltd. is Rs 149.

Time period given by analyst is Intra Day when Zomato Ltd. price can reach defined target.

Zomato Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 117481.57 Crore) operating in Services sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 916.60 Crore, up 22.08 % from last quarter Total Income of Rs 750.80 Crore and up 223.32 % from last year same quarter Total Income of Rs 283.50 Crore. Company reported net profit after tax of Rs -360.70 Crore in latest quarter.

Investment Rationale
Surpassed its previous lifetime high levels and increased volume seen in the stock.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of June 30, 2021, while FIIs held 9 per cent, DIIs 3.8 per cent and public and others 87.2 per cent.