Zomato’s parent company, Eternal, recently reported three-fold growth in revenue compared to last year, generating a buzz in the industry.
However, brokerages such as Prabhudas Lilladher and Centrum have picked Swiggy as the preferred play in the foodtech space.
Much of this has to do with chart formations, with Prabhudas Lilladher highlighting stabilisation near key moving averages and signs of revival.
Centrum Finverse points to bullish indicators and a potential move towards Rs 480-Rs 517 levels.
Eternal is a fundamental pick for Kotak Securities, though, which has cited the company’s market share gains and expected profitability for Blinkit.
