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Zomato Gets 'Reduce' As HDFC Securities Initiates Coverage — Here's Why
The brokerage initiates coverage on Zomato with a 'Reduce' rating and await a more palatable price point to become more constructive on the name, as most goodies seem priced in.
05 Feb 2025, 11:05 AM IST 
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(A Zomato delivery person. Photo source: Vijay Sartape/NDTV Profit)
For Zomato, the brokerage projects a 36% consolidated sales CAGR (including 19%/65% gross sales CAGR for food delivery/quick commerce segments, respectively), with moderating adjusted Ebitdam (from 5.3% to 4.4%) as QC skew continues to rise in the mix.
