Zomato was the top performer from the new age technology pack, giving a staggering 258% return to investors in FY24. This was after a 38% correction witnessed in FY23.
It held a 17.5% stake in Paytm in September 2022 later it trimmed its ownership through multiple open market deals. After this sale, the company s stake in Paytm’s parent One97 Communications went down to 2.83 percent from 5.01 per cent earlier.
IIFL downgraded Sanofi India to Reduce from ADD earlier with a target price of Rs 8,125. The stock continues to underperform domestic market growth. New launches remain limited and muted volume growth is seen in the top 3 therapies.