Zomato growing faster than Swiggy, says CLSA with target price of Rs 248

Global brokerage firm CLSA has set a target price of Rs 248 per share for Zomato, acknowledging its lead over IPO-bound Swiggy. In its annual results release, Prosus, with a 32.7% stake in Swiggy, revealed that Swiggy's overall GMV growth, encompassing food delivery, quick commerce, and dining out businesses, was 26% YoY, while Zomato achieved a 32% YoY growth.