Brokerage Views: Citi On Wipro, Nykaa, Zomato And More

Citi, a global investment bank and financial services company, has recently shared its views on several Indian companies including Wipro Limited, Nykaa Limited, and Zomato Limited based on their current business performance and future growth prospects. Here's a brief expansion on each of these companies as per Citi's research reports.

1. Wipro Limited:

Wipro Limited is an Indian multinational corporation that provides IT consulting and business process services. According to Citi's report, Wipro's revenue growth has been impressive in recent quarters, driven by strong demand in digital and cloud services. The brokerage firm maintains a 'Buy' rating on the stock with a target price of INR 625, which implies a potential upside of around 15% from its current price. Citi believes that Wipro's focus on digital transformation and its strategic acquisitions will help the company to sustain its growth momentum in the long term.

2. Nykaa Limited:

Nykaa Limited is an Indian beauty and fashion e-commerce platform. The company's revenue growth has been robust in recent quarters, driven by strong demand for its private labels and a growing customer base. According to Citi's report, Nykaa's market share in the Indian beauty and personal care market is expected to reach 25% by FY26, up from 12% in FY21. The brokerage firm maintains a 'Buy' rating on the stock with a target price of INR 1,350, which implies a potential upside of around 55% from its current price. Citi believes that Nykaa's focus on expanding its product offerings and its omnichannel strategy will help the company to capitalize on the growing demand for online shopping in India.

3. Zomato Limited:

Zomato Limited is an Indian food delivery and discovery platform. The company's revenue growth has been impressive in recent quarters, driven by strong demand for food delivery services during the pandemic. According to Citi's report, Zomato's market share in the Indian food delivery market is expected to reach 40% by FY26, up from 30% in FY21. The brokerage firm maintains a 'Buy' rating on the stock with a target price of INR 135, which implies a potential upside of around 35% from its current price. Citi believes that Zomato's focus on expanding its food delivery business and its investment in technology will help the company to sustain its growth momentum in the long term.

It's important to note that brokerage views and recommendations are not guarantees of future performance and should be considered in conjunction with other factors before making investment decisions.