What is the future of Zomato stock?

Zomato Share Price Update: August 2, 2024

Key Highlights:

• Q1 Net Profit Surge: Zomato's net profit surged 126 times to ₹253 crore.
• Revenue Growth: Revenue from operations increased by 74% to ₹4,206 crore.
• Stock Performance:
  • NSE: Shares closed 12.24% higher at ₹262.74, hitting a 52-week high of ₹278.70.
  • BSE: Shares closed 11.98% higher at ₹262.15, with a 52-week high of ₹278.45.

Future of Zomato Stock

The future of Zomato's stock appears promising, driven by several key factors:

• Robust Financial Performance: Zomato's impressive Q1 net profit surge and substantial revenue growth indicate a strong financial foundation. This performance is expected to continue attracting investor confidence.
• Brokerage Optimism: Leading brokerage firms have raised their target prices for Zomato, with CLSA setting a target of ₹350 and Motilal Oswal suggesting a valuation of ₹300. These optimistic evaluations point towards potential stock price appreciation.
• Expansion Plans: The growth of Blinkit and the launch of new initiatives like the "District" app demonstrate Zomato's commitment to diversifying and expanding its business, which can drive future revenue streams.
• Market Trends: Despite broader market volatility, Zomato's stock has shown resilience and strong performance. Continued positive market trends and economic recovery could further boost its stock value.

Overall, Zomato's strategic initiatives and positive market sentiment suggest a bright future for its stock. Investors are encouraged to keep an eye on the company's performance and market movements for potential investment opportunities.

Detailed Information:

Quarterly Performance:

• Net Profit: ₹253 crore, a 126-fold increase from the previous year.
• Revenue: ₹4,206 crore, up 74% from the last year.

Stock Market Reaction:

• NSE:
  • Closed at ₹262.74 (+12.24%).
  • Intra-day high of ₹278.70.
• BSE:
  • Closed at ₹262.15 (+11.98%).
  • Intra-day high of ₹278.45.

Brokerages' Take:

• CLSA: Target price raised to ₹350.
• UBS: Target price raised to ₹260.
• Citi and GS: Target price raised to ₹280.
• Motilal Oswal: Valuation of ₹300, suggesting 25% upside potential.

Zomato Saga.

Do you hold Zomato Stock?#zomato pic.twitter.com/00jTnAOpKa

— Trade Brains (@TradeBrainsGrp) August 2, 2024

Blinkit Business Growth:

• GOV Growth: 130% YoY.
• Store Expansion: Plans to expand dark stores to 2,000 by 2026.
• Profitability: Blinkit achieved adjusted EBITDA breakeven.

New Initiatives:

• District App: Zomato plans to launch a new app, "District," consolidating services like dining, movies, sports ticketing, and more. This is expected to be Zomato's third large B2C business.

#ZOMATO results: Short story.

Optimism to Hope to Delusion!

For those celebrating profit of INR 253 cr ($ 30 MN) & Revenue of INR 4000 cr ($ 470 MN).

Current Valuation is ~ $28 Billion

At this rate of PAT annualized, it would take you exactly “230 years” to recover your… pic.twitter.com/a7Ut8pvnGb

— Anurag Singh (@anuragsingh_as) August 1, 2024

Market Trends:

• Benchmark Indices:
  • BSE Sensex: Closed lower by 885.60 points or 1.08% at 80,981.95.
  • Nifty 50: Closed at 24,717.70, down by 293.20 points or 1.17%.

Reliable Sources:

• Bloomberg: Analysis and performance insights.
• Motilal Oswal: Detailed business review.
• Brokerage Reports: Updated target prices and recommendations.

For further details and live updates, visit newshaq.com.