Now Reading: Citi picks Eternal, Info Edge among top new-age stocks
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Citi picks Eternal, Info Edge among top new-age stocks
Citi has named Eternal Ltd and Info Edge among its top bets in the new-age stock segment, signalling confidence in the quick commerce and internet sectors. The brokerage's picks come amid market…
Citi has named Eternal Ltd and Info Edge among its top bets in the new-age stock segment, signalling confidence in the quick commerce and internet sectors. The brokerage's picks come amid market scrutiny of the growth trajectory for new-age companies.
Analyst Jain noted that concerns over a slowdown in the segment appear overblown, with evidence from the latest quarter indicating that quick commerce continues to perform strongly, especially for the leading player in the category. The selection reflects Citi's view that select new-age firms are well positioned for sustained growth.
The picks include Eternal, which operates in the quick commerce space, and Info Edge, a major internet firm. Investors will now watch for quarterly performance data from these companies to validate the bullish stance.
Indian Opinion Analysis
Citi's endorsement matters because foreign brokerage calls often influence institutional flows into Indian new-age stocks, a segment that has seen volatile trading since its listing wave. Eternal (formerly Zomato's quick commerce arm) and Info Edge represent different sub-sectors, delivery and classifieds, but both face questions on path to profitability. The key metric to watch is whether Eternal can sustain its market share against rivals like Swiggy's Instamart, and if Info Edge's recruitment business holds up amid a global tech hiring slowdown. Investors should track the next quarterly results and any commentary on unit economics.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
