Tue Jan 21 08:57:18 UTC 2025: ## Zomato Stock Plunges 9% After Disappointing Q3 Results

**MUMBAI, INDIA** – Zomato Ltd. shares experienced a significant drop of 9% on Tuesday, marking a 20% decline year-to-date. The fall follows the release of the company’s December quarter earnings, which disappointed investors. Analyst reactions have been mixed, with target prices ranging widely from ₹140 to ₹400.

IIFL Securities downgraded Zomato to “ADD” with a reduced target price of ₹250, citing anticipated competitive pressures peaking in 2025. However, Nuvama maintained a “BUY” rating with a revised target price of ₹300, highlighting Blinkit’s strong dark store expansion despite short-term profitability challenges. Other analysts offered varying perspectives: CLSA set a target of ₹400, BofA Securities ₹375, UBS ₹320, and Nomura India ₹290. Nomura emphasized monitoring Blinkit’s market share and profitability. Kotak Institutional Equities also maintained a “Buy” rating, emphasizing Blinkit’s strong position in the quick commerce sector, while MOFSL predicted short-term pain but long-term gains, setting a target price of ₹270. Macquarie, however, expressed concerns about rising competition and offered a more conservative target price of ₹130. The wide range of target prices reflects the uncertainty surrounding Zomato’s future performance.

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