<ul><li>Zomato shares dropped over 3% as Macquarie forecasted a near 50% decline due to fierce competition in quick commerce. The projected price target is ₹96, signaling a potential 46% drop.</li><li>Macquarie has retained its "Underperform" rating on Zomato since May last year. The firm’s bearish stance stems from intensifying competition and market challenges.</li><li> JioMart's upcoming 30-minute grocery delivery service is set to shake up the market. Starting next month in eight cities, it aims to expand rapidly, challenging Zomato's dominance.</li><li>While Macquarie predicts downside risks for Zomato's Blinkit, Goldman Sachs values it higher than Zomato’s core business. Blinkit's revenue doubled, reaching ₹769 crore, and it turned EBIT positive in Q1.</li><li>Zomato reported a net profit of ₹175 crore for the March quarter, bouncing back from a ₹188 crore loss. Despite Friday's dip, the stock has soared over 150% in the past year.</li></ul>

Zomato shares Plunge! Macquarie predicts 50% crash amidst JioMart's bold move

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