look news india
Zomato Share Price: The trading session of Tuesday 26 March 2024 was historic for online food delivery app Zomato. Zomato's stock has crossed its previous highest level. It hit a record lifetime high of 183.65. At market close, Zomato shares jumped 4.82 percent to Rs. It closed at 182.60. With this, the market cap of Zomato has also crossed Rs 1.61 lakh crore.
Holi has been a great festival for Zomato. Its users placed huge orders for Gujiya and other sweets on Zomato's app. Similarly, on Zomato's online grocery company Blinkit, users have also done a lot of shopping on the occasion of Holi. Everything from white T-shirts to Pichkari, colours, gulal and sweets were ordered. Holi, the festival of colors, was very good for Zomato and Blissint, which affected the shares of Zomato in Tuesday's trading session. Zomato has given strong returns to its shareholders. Due to heavy buying, Zomato shares fell to Rs 100. Has reached a historical high of 183.65. The market expects that the fourth quarter of the current financial year will be great for Zomato.
However, if the recent brokerage report on Zomato is to be believed, the rise in Zomato's stock will not stop here. Foreign brokerage house CLSA has advised investors to buy Zomato stock with a target price of Rs 227. Jefferies has set a target price of Rs. 205 is given.
What was the price a year ago?
Exactly a year ago, on March 28, 2023, the share price of Zomato was Rs 100. Which was trading at Rs 49. It is also Rs 76 below the IPO price. But in the last one year, after excellent quarterly results and increasing investor confidence, Zomato shares have given excellent returns to its investors. Zomato has given 274 percent return to its shareholders in one year. The stock has given a return of 48 percent in 2024. The stock has increased by 83 percent in six months.