Kotak Picks: Vedanta Metal Upcycle Par Sawar, Zomato Ki Blinkit Growth Par Nazar

BROKERAGE-REPORTS
Whalesbook Logo
AuthorIshaan Verma|Published at:
Kotak Picks: Vedanta Metal Upcycle Par Sawar, Zomato Ki Blinkit Growth Par Nazar
Overview

Kotak Securities ne Vedanta aur Zomato (Eternal) dono ko BUY recommend kiya hai. Vedanta base metals mein rally aur demerger se fayda uthayegi, jabki Zomato ki Blinkit, store expansion aur margin improvements se growth dikhayegi. Analysts ne Q3FY26 ke liye specific forecasts diye hain.

Kotak Securities ne Vedanta ke liye ₹780 ke price target ke saath BUY rating di hai. Brokerage ko lagta hai ki company base aur precious metals mein chal rahe upcycle ka fayda uthane ke liye sabse achhi position mein hai. Lagbhag 85% EBITDA aluminum (~50%), zinc (~20%), aur silver (15%) se aayega. FY2027–28E mein aluminum, zinc, aur power divisions mein capacity growth bhi earnings badhayegi.
The proposed demerger, jo Q4FY26 mein shuru hokar Q1FY27 tak poora hone ki ummeed hai, khas kar aluminum aur power sectors mein higher multiples ke through value unlock karega. Global factors jaise supply disruptions, weak U.S. dollar, aur Fed rate cuts ne metals prices ko boost kiya hai. Global aluminum prices CY-2026 mein 9% aur YoY 26% badhi hain.
Eternal (Zomato) ko bhi ₹400 target ke saath BUY kiya gaya hai. Q3FY26 food delivery GOV ₹11,700 crore (18% YoY growth) rehne ka anuman hai. Blinkit, quick-commerce arm, store additions aur throughput improvement se NOV mein 123% YoY growth dikhane ki ummeed hai. Blinkit ka contribution margin NOV ka 4.9% (30 bps sequential rise) ho sakta hai, jisse EBITDA loss kam hoga.
While Blinkit's growth GST rate revisions se thoda affected hai, Kotak Securities ka kehna hai ki ad monetization aur mature stores se profitability aur badh sakti hai. Management commentary on competitive intensity aur discounting trends important rahega.

Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.