Zomato Share Price Target: Zomato's stock is seeing a rise on Monday. At around 3 pm, the company's stock is trading at Rs 265.65 on BSE , up Rs 8.25 or 3.21 percent. Deependra Goyal-led Zomato has recently announced that it is raising new funding through QIP (Qualified Institutional Placement). This decision is being considered surprising as the food delivery company has cash of about $1.2 billion (Rs 10000 crore). In such a situation, whether it is beneficial to buy its shares or not, know the opinion of the brokerage firm further.

Buying advice in Zomato (Zomato Share Buy or Not)

Brokerage firm Jefferies has given a BUY rating to Zomato, one of India's leading food-tech companies, in its new report. Zomato is applying to RBI to limit FII (foreign investor) holding to 49 percent.

Jefferies said that if the move goes through, Zomato will become a 'domestic' company. However, it added that the FII cap process may take time but it could also result in the stock being deleted from MSCI.

Zomato Share Price Target

Jefferies has a buy rating on Zomato with a target price of Rs 335 per share. This is a growth of about 22 percent from the current price of the stock (Rs 265.65).

Disclaimer: The equity market is risky, so invest at your own risk. Consult an expert before investing. The advice given here is based on ET Now's report and the stock opinion is based on the information provided to ET Now by the brokerage firm. Times Now Navbharat.com is not giving any investment advice.