BENGALURU – Zomato is the most-valuable internet stock in Asia’s third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees. India’s several new-age internet companies that hit the markets during the IPO frenzy in 2021 jumped after listing but slumped eventually … Read more
Shares of food delivery app Zomato jumped over 4% on Friday and hit their fresh 52-week high of Rs 150.20 on the NSE on the back of strong December quarter earnings which handsomely beat Street’s estimates. Strong investor interest in the multibagger stock saw more than 7.32 crore shares changing hands on the NSE around … Read more
Zomato shares jumped over 4% in the opening trade on Monday and hit their fresh 52-week high of Rs 121.45 on the NSE following target upgrades by as many as five top brokerages. In their post-earnings stock review, CLSA, Jefferies, HSBC, Motilal Oswal and Nuvama reiterated their buy stance on the counter and raised their … Read more
Shares of food delivery app Zomato jumped over 11% in intraday trade and hit their 52-week high of Rs 119.90 on the NSE on Friday following a surprise profit delivery of Rs 36 crore in the September quarter. Analysts had expected the company to post a loss of Rs 5 crore. The stock which closed … Read more
New Delhi: Trimming GMV (gross merchandise value) growth forecast for ’s food delivery segment, domestic brokerage Kotak Institutional Equities has reduced its price target on the new-age stock to Rs 85 from Rs 100 earlier. “Our conversations with industry participants indicate that food delivery GMV growth may remain subdued in the near term owing to … Read more