Shares of Zomato at a Record High: After making its launch at Rs 116 in July 2021, the food delivery firm Zomato’s shares hit an all-time high on July 11 by reaching Rs 216 per share. The decision of whether to purchase, sell, or hold Zomato shares is raised by this remarkable growth. Here’s a thorough analysis of Deepinder Goyal’s Zomato right now.
Zomato Shares Reach New High-Crucial Information
Milestone for Zomato Stock: On Thursday, Zomato’s stock surged to a record high of Rs 216 a share, more than Rs 100 above its listing price. The stock rose by Rs 5 or 2.4% on the BSE to Rs 216.2 per share. It stayed steady at Rs 213.4 by 11:20 am, continuing its strong rise. of Rs 97 more than the asking price.
Reasons for the Surge, Zomato Shares Reach New High-Crucial Information
Analysts attribute the current surge to Zomato’s strong financial results. Ten essential points to comprehend the current situation are as follows:
- Exceeded objective: Based on a number of criteria, SBI Securities suggested a “buy,” however Zomato shares have beyond the one-year objective of Rs 214.
- Bullish Stance: A diverse business strategy, a strong brand, increasing market penetration, consistent performance, and a value well-supported by profits growth are the five factors given by SBI Securities to back its bullish outlook.
- Brand Recognition: Zomato has grown its service offerings over the years thanks in part to its well-known metropolitan meal delivery services.
- Blinkit Acquisition: Blinkit, which Zomato purchased in 2022, offers a variety of goods, ranging from groceries to necessities for the home, expanding Zomato’s customer base.
- Widespread Presence: Zomato is present in more than 800 Indian cities, and 63% of its total revenue comes from its meal delivery service.
- Strong Performance: Blinkit expects to expand its store count to about 1,000 by FY25, and the March quarter performance was strong.
- Potential hazards: The real estate industry is vulnerable to a number of major hazards, such as a decrease in consumption, intense competition, and rising interest rates.
- IPO Premium: At Rs 116 a share, Zomato shares debuted on the market, 53% above the high end of the IPO price range.
- Upcoming figures: Zomato has not yet specified when its financial figures for the June quarter, or the first three months of FY25, will be available for public consumption.
- Platform Overview: Zomato is an online meal delivery network that links delivery partners, restaurants, and customers.
Making an informed choice about your Zomato investment might be aided by your understanding of these variables.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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