- Saturday, March 22, 2025
The stock remains a top pick among Indian consumers due to the food delivery platform’s rapid growth and Blinkit’s market share
By: Shajil Kumar
SHARES of online food delivery platform Zomato Ltd surged over 4 per cent to hit the record high level on Thursday.
The stock jumped 4.49 per cent to settle at ₹283.90 on the BSE. During the day, it soared 5.24 per cent to hit a record high of ₹285.95.
At the NSE, it surged 4.25 per cent to ₹283.30.
The company’s market valuation went up by ₹109.78 billion to ₹250.80 billion.
In traded volume terms, 43.80 lakh shares of the firm were traded at the BSE and 1,016.92 lakh shares traded at the NSE during the day.
The stock has been surging since September 4, rallying 16.87 per cent.
Shares of the firm have soared 129.50 per cent so far this year.
The stock remains a top pick among Indian consumers due to its rapid growth and Blinkit’s market share.
Most global brokerages have been giving favourable ratings for Zomato and see further growth.
The latest to do so is UBS with a ‘buy’ rating on the stock with a price target of ₹320.
Earlier JP Morgan had raised Zomato’s target price to ₹340 from ₹208.
CLSA also recently raised its price target on Zomato to ₹353 from ₹350.
