[ad_1] MUMBAI: Shares of the food delivery platform fell 6.4% on Monday as analysts remained cautious about the company’s takeover. blinkit, a quick delivery service firm. Market participants worry that the $165 million per year cash burn for Blinkit will further delay Zomato’s road to profitability. “Given the intense competitive intensity in the QuickCommerce space, we believe that the path to profitability post the Zomato Group acquisition can be extended by at least one year from FY25 to FY26,” said Swapnil Potdukhe, Analyst Told , Volatile market environment, relatively cheap…
Tag: Blinkit
Zomato Share Price: Blinkit deal ‘poison bullet’ for Zomato? Here’s What Global Brokerages Say
[ad_1] Shares of the food delivery platform have fallen more than 58 per cent from their all-time highs, leaving the stock firmly in place. However, the global brokerage maintains a mixed stance on this new age internet company. global research firm hsbc He believes that creating a grocery business will act as a “poison pill” for Zomato. This would require a reasonably high investment and hence be a waste of cash as well as it is likely to be a significant logistical challenge to execute. The brokerage highlighted that Zomato…