Zomato’s quick commerce arm Blinkit has surpassed its food delivery business in terms of implied value for the first time, according to Goldman Sachs. At Rs 119 per share or about $13 billion in equity value, Blinkit accounts for a higher proportion of Zomato’s sum-of-the-parts valuation than the food delivery business at Rs 98 per share.
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The stock gave multibagger returns of 125 per cent in just 1 year, 1,150 per cent in 3 years and a whopping 2,000 per cent in 5 years. Kernex Microsystems (India) Ltd secured an additional order worth Rs 8.26 crore from Integral Coach Factory (ICF), Chennai, for supplying, installing, and commissioning twelve Train Collision Avoidance Systems (TCAS) (KAVACH).
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Gold rate today: On account of ease in the Iran-Israel war buzz and dent in the US Fed rate cut speculations in the upcoming US Fed meeting, gold prices witnessed strong profit-booking last week. Gold futures contract on the Multi Commodity Exchange (MCX) for June 2024 expiry ended its five-week rally and finished at ₹71,486 per 10 gm level, ₹2,472 per 10 gm or around 3.35 percent.
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