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Shares of Eternal Ltd., the parent of Zomato and Blinkit, are trading 2% lower on Monday, April 13.
Goldman Sachs believes Blinkit's TAM concerns are overdone and sees further value upside.
KEY POINTS
- Industry MTU penetration for Blinkit is already over 50% and may reach maturity in 1-2 years.
- Goldman Sachs notes Blinkit's growth has slowed recently due to increased competition from new entrants.
- JM Financial expects Blinkit's adjusted EBITDA margin to improve to 0.4% of NOV in Q4FY26.
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