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ICICI Securities has reaffirmed its buy recommendation for Zomato with a target price revised to Rs 310. Zomato reported a consolidated total income of Rs 5,657 crore for Q3 2024, showing significant growth from the previous quarter. ICICI’s DCF-based valuation remains optimistic despite potential risks like reduced discretionary spending. Zomato’s market cap stands at Rs 194,647.57 crore.
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