External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Overall, B2C NoV grew ~55% YoY (11.1% QoQ) to INR 257.3bn in Q3FY26 (in-line)</li><li>Zomato’s food delivery (FD) sustained its recovery momentum with NOV rising 16.6% YoY to INR98.5bn (vs 13.8% in Q2), while CM/adj</li><li>EBITDAM (as % of NoV) remained largely stable QoQ at 10.4/5.4% (HSIE: 10.2/5.3%)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Overall, B2C NoV grew ~55% YoY (11.1% QoQ) to INR 257.3bn in Q3FY26 (in-line)Zomato’s food delivery (FD) sustained its recovery momentum with NOV rising 16.6% YoY to INR98.5bn (vs 13.8% in Q2), while CM/adjEBITDAM (as % of NoV) remained largely stable QoQ at 10.4/5.4% (HSIE: 10.2/5.3%)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Eternal (3QFY26 Results Review): FD Recovery Continues, Blinkit in the Black. Maintain ADD