Zomato slips 5% on heavy volumes; stock falls below Rs 200 after 8 months

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Zomato slips 5% on heavy volumes; stock falls below Rs 200 after 8 months - Business Standard

Quick Summary:

The stock hit a intra-day low of Rs 199.75 and has corrected 34% from its 52-week high of Rs 304.50 on concerns around increasing cash burns in Quick Commerce.

The management expects the losses in Blinkit to continue in the near term, due to aggressive store expansion; it now targets reaching store-count of 2,000 by December 2025 (vs December 2026 earlier); but the pause in margin expansion is expected to be temporary.

However, ICICI Securities said it’s on the ground checks (across 4 locations in each of the top 8 metros) reveal that while some discounting still persists in the space, item level discounting is past the peak levels seen from November 2024-January 2025.“We think the recent market correction has clearly conveyed investor preference for sustainable growth.