The stock has seen a decline of up to 65% in 52 weeks, this is the right time to buy the stock

Shares of Zomato are down 65 per cent from their 52-week low

Shares have fallen by 14% in the last 2 years

Speaking on Zomato, Jefferies said that the Fed's tightening and investor focus on cash flow is putting pressure on internet names, including food tech, globally.

It set a target price of Rs 100 for the food delivery firm.

However, in a bullish scenario, Jefferies said Zomato could reach Rs 160 in the next 12 months.

Zomato made a strong market debut on July 23, 2021, as the stock opened at Rs 116 on NSE, a 52.63 per cent premium over its IPO issue price of Rs 76.

The listing price on BSE was up 51.32 per cent at Rs 115. ,

this is the right time to buy the stock

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