HSBC has maintained its buy call on Zomato, setting a target price of ₹330, indicating a 28.8% upside from the current market price of ₹256.35. The food delivery segment’s Q2 results were in line with expectations, while the quick commerce segment exceeded forecasts. Zomato continues to invest in building capacity and brand awareness in its quick commerce arm, supported by recent fundraising efforts that provide ample resources for future growth in a competitive market.
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