Zomato: Zomato shares drop 5% after BofA downgrades stock to 'neutral,' cuts target price to Rs 250.

Zomato shares dropped 5% to Rs 199.90 on the BSE after BofA Securities downgraded the stock to "neutral" and cut its price target to Rs 250, citing profitability concerns in quick commerce and food delivery. BofA expects Zomato's EBITDA for FY26 and FY27 to be 20-50% below street estimates, raising concerns about its financial outlook.