After a period of relative lull, Zomato shares appear to be on the rise again. The company shares gained over 3 per cent in the intraday trade on Tuesday. This came to pass after the broking agency Bernstein went bullish on the Deepinder Goyal-led company.

Bulls On Parade For Zomato

The company has maintained its outperform rating for the company, which currently has interests in food delivery, ticket booking (through Zomato District), and quick commerce or quick service, through Blinkit.

And, it is specifically here, in the quick commerce space, that a lot of faith is deposited. Bernstein is hopeful that the company's q-com sector performing well for it.

Zomato Shares Rise

The rating company also has added a price target of Rs 310 per share, as it could rally to that milestone.

When we take a look at the company shares on Tuesday, the Zomato shares opened at Rs 224.20; thereafter, they went on to make major gains.

At the time of writing, the Zomato shares reached Rs 229.64, having surged by 3.12 per cent or Rs 6.95.

Zomato, which was initially added to the elite Sensex 30, was also added to Nifty 50 on Monday, creating a niche for itself.

The company shares, however did not rise up to the occasion, as it traded in green with major cuts on Monday.

The Q-Comm Contest

Zomato is currently engaged in the market, where the spot for number 1 is being fiercely fought between some formidable companies, including Zomato itself and its biggest rival, Swiggy, which itself has Swiggy Instamart, Genie, its quick commerce arms, along with quick food delivery companies likes Swiggy Snacc (Zomato has Blinkit Bistro).

There is another major name in the business, Zepto. The company has also made waves in the segment with its services, and Zepto Cafe business. The quick commerce sector is arguably the most tightly fought context in the Indian Inc story today, and what lies ahead, in the future, is something that remains to be seen.