Citing the rapid growth of the quick commerce (QC) economy, brokerage firm Bernstein has maintained its ‘Outperform’ rating on Zomato and revised its target price to Rs 330, suggesting an upside potential of 16% from the previous day’s closing price of Rs 283.9. Bernstein points out that initial assumptions about QC, such as it being … Read more
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
