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Zomato Extends Gains: Shares Jump Over 6% To Touch Fresh 52-Week High

Inc42 · 1y ago

Zomato Extends Gains: Shares Jump Over 6% To Touch Fresh 52-Week High

Shares of foodtech major Zomato jumped over 6% to touch a fresh 52-week high on the BSE following its strong Q3 FY24 earnings. The company reported its third straight profitable quarter, with consolidated profit after tax (PAT) nearly quadrupling to INR 138 crore. Zomato's quick commerce business, Blinkit, witnessed a strong growth momentum, contributing to its overall profitability. Various brokerages, including Jefferies, HSBC, and Kotak, have increased their price targets on Zomato, reflecting positive sentiment. The stock has already gained 25% year to date.

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Zomato shares rally 6% to hit a fresh all-time high

Inshorts · 8m ago

Zomato shares rally 6% to hit a fresh all-time high

Zomato shares extended gains for second consecutive day and jumped over 6% during the intraday trading session till (December 5) to hit a fresh all-time high at ₹304.50 apiece on the BSE. The surge of stock price came on the back of heavy volumes, with over 5.84 crore equity shares worth ₹1,770.06 crore on the BSE and NSE.

PB Fintech shares touch all time high

Inc42 · 1y ago

PB Fintech shares touch all time high

Shares of PB Fintech surged 10.6% to touch a record high at ₹1,544.15 during the intraday trading on the BSE on Monday (July 1). The shares of the parent entity of insurtech major PolicyBazaar have been on an uptrend since last week. On June 27, PB Fintech shares touched a 52-week high at ₹1,415 on the BSE.

New-Age Tech Stocks’ Winning Streak Ends; Yudiz Biggest Loser This Week

Inc42 · 1y ago

New-Age Tech Stocks’ Winning Streak Ends; Yudiz Biggest Loser This Week

Indian new-age tech stocks experienced a mixed performance this week, with some stocks declining while others registered gains. Among the losers were Yudiz, PB Fintech, Nazara Technologies, Delhivery, Paytm, and RateGain. On the other hand, DroneAcharya emerged as the biggest gainer, followed by Nykaa, Zomato, ideaForge, and EaseMyTrip. The broader market saw a positive trend, with benchmark index Nifty 50 gaining 1.88% and Sensex rallying 1.86%. Paytm shares fell 2.3%, while Zomato continued its rally, touching another 52-week high. DroneAcharya gained 14.5% after launching the BHUJANG drone.

Zomato Gains Over 4% To Touch New 52-Week High

Inc42 · 1y ago

Zomato Gains Over 4% To Touch New 52-Week High

Zomato shares surged over 4% to reach a new 52-week high, following strong Q3 earnings. The company's consolidated profit after tax almost quadrupled, driven by growth in its quick commerce business. Zomato's food delivery business saw a 6.3% sequential growth in gross order value, while its Hyperpure vertical experienced over 2x YoY revenue growth. Brokerages such as Jefferies, Nuvama, HSBC, and Kotak have also increased their price targets on Zomato.

Swiggy shares surge 11.35% to reach an all-time high

Inshorts · 8m ago

Swiggy shares surge 11.35% to reach an all-time high

Shares of Swiggy surged to 11.35% during the intraday trading session on (December 5) to reach an all-time high at ₹576.95 on the BSE. This marks the fresh 52-week high for the stock. The company market capitalisation stood at ₹1,26,472 crore by 11:30 pm and as many as 26.6 crore Swiggy shares traded hands by then.

Paytm shares hit 52-week high as UBS sets ₹1,000 target price

Inshorts · 9m ago

Paytm shares hit 52-week high as UBS sets ₹1,000 target price

Paytm-parent One97 Communications' shares jumped to a 52-week high of ₹949.95 on Thursday before paring some gains and ending at ₹927.50. The surge comes after UBS raised the target price for the shares from ₹490 to ₹1,000. The brokerage firm, however, retained its 'neutral' rating for the stock. Earlier, Bernstein also raised its target price for Paytm shares to ₹1,000.

Zomato shares hit 52-week high after reporting first-ever profit

Inshorts · 2y ago

Zomato shares hit 52-week high after reporting first-ever profit

Zomato's shares experienced a 14% surge, reaching a one-year peak on Friday following its inaugural profit announcement. Zomato achieved a consolidated net profit of ₹2 crore for the April-June quarter, in contrast to a ₹186 crore net loss in the same period last year. The company's shares hit a 52-week high of ₹98.40 during early trading on Friday.

Zomato Shares Hit Fresh All-Time High At INR 285.95 Amid Rally In Broader Markets

Inc42 · 11m ago

Zomato Shares Hit Fresh All-Time High At INR 285.95 Amid Rally In Broader Markets

Shares of Zomato reached a new all-time high at INR 285.95 apiece, resulting in a 5% jump during intraday trading on the BSE. This surge in share prices aligned with the Sensex surpassing 83,000 points for the first time. Among the new-age tech stocks covered by Inc42, 15 out of 28 saw gains ranging from 0.51% to 7.61%, with Zaggle experiencing the highest increase.

Zomato Gains Over 2% To 52-Week High After HSBC Raises Target To INR 150

Inc42 · 1y ago

Zomato Gains Over 2% To 52-Week High After HSBC Raises Target To INR 150

Shares of Zomato surged by 2.5% to a 52-week high of INR 138 per share on BSE, following a target price increase by HSBC to INR 150. The brokerage firm holds a positive long-term outlook for Zomato, despite predicting subdued growth in 2024. Another analyst, Elara Securities, recommended buying Zomato stock after the platform fee for food delivery services was raised by 33%. Zomato's profitability in the food delivery business is expected to be driven by increased convenience fees, advertising income, and restaurant commissions. At the close of Thursday's session, Zomato shares were trading at INR 137.

Zomato stock hits 52-week high, market cap nears $10.7 billion

Economic Times

Economic Times · 1y ago

Zomato stock hits 52-week high, market cap nears $10.7 billion

Shares of online food and grocery delivery platform Zomato reached a 52-week high of Rs 105 per share as its market capitalization approaches $10.7 billion. The stock has experienced significant growth over the past six months and was one of the top buys for domestic fund houses in August. Zomato reported a surprise net profit of Rs 2 crore for the June quarter, attributed to strong revenue growth and improved margins. The company expects to remain profitable and deliver 40%+ year-on-year revenue growth for the next couple of years.

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