ICICI Securities Bullish On Zomato & Swiggy, Says Investor Ignoring Food Delivery

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SUMMARY

In a report on March 4, the brokerage reiterated its ‘BUY’ rating for both companies, giving Swiggy a price target (PT) of INR 740 and Zomato a PT of INR 310

ICICI Securities observed that the share prices of both the companies have seen a correction of about 45% (Swiggy) and 30% (Zomato) over the past three months

ICICI Securities said that food delivery has continued to scale profitably over the last 2 year

Amid bearish investor sentiment that has dented valuations of foodtech majors Zomato and Swiggy by billions,…



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ICICI Securities Bullish On Zomato & Swiggy, Says Investor Ignoring Food Delivery


SUMMARY

In a report on March 4, the brokerage reiterated its ‘BUY’ rating for both companies, giving Swiggy a price target (PT) of INR 740 and Zomato a PT of INR 310

ICICI Securities observed that the share prices of both the companies have seen a correction of about 45% (Swiggy) and 30% (Zomato) over the past three months

ICICI Securities said that food delivery has continued to scale profitably over the last 2 year

Amid bearish investor sentiment that has dented valuations of foodtech majors Zomato and Swiggy by billions,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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