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Axis Capital Initiates Zomato Coverage With ‘Buy’, Calls It A ‘Compelling Investment Opportunity’

Inc42 · 1y ago

Axis Capital Initiates Zomato Coverage With ‘Buy’, Calls It A ‘Compelling Investment Opportunity’

Axis brokerage has set a price target of INR 254 for Zomato, implying a potential upside of 36%. Despite slow growth in Zomato's food delivery sector, Axis expects its market share to increase to 54%, resulting in a compound annual growth rate (CAGR) of 16% by FY30. In the quick commerce sector, Axis predicts Blinkit's gross order value (GOV) to experience a CAGR of 38% from FY24 to FY30, reaching $10.5 billion.

Related News

Analysts initiates coverage on this Jhunjhunwala stock; see upto 80% uspide

Business Today

Business Today · 4m ago

Analysts initiates coverage on this Jhunjhunwala stock; see upto 80% uspide

Domestic brokerage firms Nuvama and JM Financial have initiated coverage on a recently-listed stock linked to famed investor Jhunjhunwala, projecting an upside potential of up to 80%. This suggests strong market confidence and anticipated growth, highlighting the stock as a notable investment opportunity. The coverage by reputable firms underscores the potential value increase, catching the attention of investors seeking promising stocks in the market with substantial returns.

ICICI Securities Initiates Coverage On Honasa With ‘BUY’ Rating, Sees 28% Upside

Inc42 · 1y ago

ICICI Securities Initiates Coverage On Honasa With ‘BUY’ Rating, Sees 28% Upside

ICICI Securities has initiated coverage on Honasa Consumer Ltd, the parent company of Mamaearth, with a ‘BUY’ rating and a price target of INR 550 per share. The brokerage believes that Honasa's agile and low-risk business model, along with its digital-first approach, positions it well in the beauty and personal care industry. Honasa's portfolio of brands, including Mamaearth, The Derma Co, and others, is expected to benefit from industry growth. While the report highlights challenges in scaling offline distribution and the limitations of a niche natural ingredient-oriented approach, Honasa's newer brands are experiencing strong growth. Shares of Honasa have surged since listing on the stock exchanges in November last year.

Citi Initiates Coverage On Mamaearth With ‘Buy’ Rating, Sees 24% Upside

Inc42 · 1y ago

Citi Initiates Coverage On Mamaearth With ‘Buy’ Rating, Sees 24% Upside

Mamaearth's parent company, Honasa Consumer Ltd, has received a 'buy' rating from brokerage firm Citi Research. Citi expects the company to outperform in terms of growth due to its strong brand positioning and market opportunity. It has set a price target for Honasa of INR 550, representing a potential upside of 24%. The brokerage also noted that Honasa's innovative products, expansion into new categories, and margin expansion are positive factors for its long-term success. Mamaearth saw a 264% increase in net profit in Q3 FY24, with its revenue expected to grow at a 25% CAGR over the FY24-FY26 period.

Investec initiates coverage on Stylam Industries with buy call, sees 41% upside

Money Control

Money Control · 1y ago

Investec initiates coverage on Stylam Industries with buy call, sees 41% upside

Shares of Stylam Industries surged around nine percent following coverage initiation by Investec with a 'buy' rating and a target price of Rs. 2,362, implying a 41 percent upside. Investec mentioned the rapid revenue growth of Stylam in both domestic and export markets, highlighting the company's strong execution and distribution strategies. Stylam Industries has delivered consistent revenue growth and has outperformed peers on operating metrics, benefiting from cost control measures. The company could witness a 19 percent CAGR in EBITDA over FY24-26E.

Shiprocket planning for a ₹2,500-crore IPO in 2025: Report

Inshorts · 8m ago

Shiprocket planning for a ₹2,500-crore IPO in 2025: Report

Zomato and Temasek-backed logistics-tech unicorn Shiprocket is planning to launch an IPO in 2025 to raise ₹2,000-₹2,500 crore, Moneycontrol reported. "Work on the deal has begun...Axis Capital, Kotak Mahindra Capital, JM Financial and BofA Securities are the investment banks acting on the issue," sources cited by the report said.

Now, Zomato Initiates ITR Filing For Its Delivery Partners

Inc42 · 1y ago

Now, Zomato Initiates ITR Filing For Its Delivery Partners

Zomato announced that it paid over INR 4,000 Cr to delivery partners last year, with INR 40 Cr withheld as TDS. Within a few days of launching the Zomato Delivery Partner app, more than 100,000 partners have started filing their income tax returns. Zomato's stock closed slightly lower at INR 218.80 on Friday.

Axis Bank won't infuse more capital into NBFC; it will tap market

Economic Times

Economic Times · 1m ago

Axis Bank won't infuse more capital into NBFC; it will tap market

Axis Bank has pledged to the Reserve Bank of India that it will not inject new capital into Axis Finance, its finance company. Instead, Axis Finance plans to raise ₹3,000 crore through an IPO. This move aligns with RBI's guidelines, which discourage banks from overlapping business operations with their subsidiaries. Axis Finance aims to raise market capital without involving Axis Bank, ensuring compliance with regulatory directives while pursuing growth strategies.

Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO

Economic Times

Economic Times · 2m ago

Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO

Zomato-backed Shiprocket plans to file a confidential draft prospectus with Sebi for a Rs 2,000-2,500 crore IPO. The ecommerce logistics firm aims to raise Rs 1,000-1,200 crore in fresh capital. Shiprocket has grown 20-25% in FY25 despite a challenging ecommerce landscape, serving mostly tier-II and tier-III cities. It has expanded its focus to payments, cross-border shipping, and quick commerce while acquiring several companies. The IPO is being managed by Axis Capital, Kotak Mahindra, JM Financial, and Bank of America.

Axis Capital ropes in former JM Financial executive as MD, CEO

VCCircle

VCCircle · 1y ago

Axis Capital ropes in former JM Financial executive as MD, CEO

Axis Capital, an investment bank, has appointed Atul Mehra as the managing director and chief executive officer. With over three decades of experience in the equity capital market and mergers and acquisitions, Mehra will oversee the investment banking and institutional equities businesses. The bank has seen multiple departures at the top level in recent months. Mehra's appointment comes after Salil Pitale and Chirag Negandhi left the firm as co-heads in the past few months. Axis Capital has also appointed Parag Gude and Dhaval Desai in key positions.

Investing in the Growth Story of Indian Pharma

StartupTalky

StartupTalky · 1y ago

Investing in the Growth Story of Indian Pharma

The Indian pharmaceutical industry presents a compelling investment opportunity due to its strong fundamentals, robust exports, and government support. Major Indian pharma companies have delivered impressive stock market performances, driven by rising domestic demand, strong exports, and innovation in research and development. However, investors must be aware of potential risks such as regulatory scrutiny, currency fluctuations, and competition. To make informed investment decisions, it is important to analyze company fundamentals, product portfolios, market focus, regulatory compliance, and management expertise. Emerging trends in the industry include the focus on specialty drugs, contract research and manufacturing services, and digital transformation. Despite challenges, the Indian pharma sector offers a promising investment landscape with long-term growth prospects.

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