Zomato shares rally 6% to fresh high, cross Rs 300 for first time
Zomato on Thursday rallied up to 6% to hit a fresh all-time high of Rs 304.50 on BSE. The stock, which is set to enter Sensex from December-end, is now on the verge of crossing the Rs 3 lakh crore market capitalization mark.
Zomato rival Swiggy's Q2 earnings had positive read-throughs for investors in Zomato as well. Global brokerage firm CLSA reiterated its 'outperform' rating on Zomato with a target price of Rs 370, citing a strong momentum in the quick commerce segment and its leadership position.
Morgan Stanley has an overweight call on Zomato with a target price of Rs 355.
«Overall, Swiggy saw some reversal in its market share loss to Zomato in F2Q25, but its Quick Commerce (QC) business grew in line to marginally slower than Zomato's Blinkit (on qoq basis). Unit economics improved, although in absolute terms, consolidated adjusted EBITDA loss was largely similar to Q1,» Morgan Stanley said.
At the same time, shares of Swiggy also rallied up to 11% to the day's high of Rs 576.95.
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
ROC Made Easy: Master Course for ROC Stock Indicator
By — Souradeep Dey, Equity and Commodity Trader, Trainer
Stock Trading
RSI Trading Techniques: Mastering the RSI Indicator
By — Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert
Stock Trading
Options Scalping Made Easy
By — Sivakumar Jayachandran, Ace Scalper
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By —
