CLSA picks Zomato as its top pick in food delivery space; sees up to 27% potential upside

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Zomato shares volition beryllium successful absorption successful Monday's league (September 30) arsenic the planetary brokerage CLSA has continued with its 'outperform' telephone connected the stock. The people pegged for the banal is Rs 353, suggesting an upside of 27 per cent from the erstwhile close.

The brokerage has chosen Zomato arsenic its apical prime successful the nutrient transportation space. The standing connected the banal has been maintained adjacent arsenic the company's rival Swiggy is besides acceptable to travel with its IPO soon.

Hong Kong-based brokerage said that the institution has fared good and is up successful fiscal metrics successful examination to Swiggy some successful FY24 and Q1FY25.

The brokerage besides added that the QSRs are losing their marketplace stock to aggregators specified arsenic Zomato.

In respect of Swiggy, the brokerage said that it volition beryllium good positioned erstwhile it fills the backing gap

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