Shares of Zomato rose over 8 per cent in early trade amid a rally in the broader market today. The rise in Zomato stock comes amid founder of the food aggregator firm Deepinder Goyal congratulating Paytm and its founder Vijay Shekhar Sharma on their Q3 earnings show.
Zomato stock touched an intraday high of Rs 53.75, rising 8.48% on BSE. The stock opened with a gain of 2.93% at Rs 51 today. The Zomato stock is trading higher than the 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
Check share price live: Zomato Ltd
In a year, the stock is down 43.86% and fallen 11.46% in 2023. The stock hit a 52-week high of Rs 95.45 on February 9, 2022 and a 52-week low of Rs 40.55 on July 27, 2022.
Total 107.75 lakh shares of Zomato Ltd changed hands amounting to a turnover of Rs 56.49 crore on BSE. The market cap of the firm rose to Rs 44,853 crore on BSE.
At 12:08 pm, Zomato share price traded 5.85 per cent higher at Rs 52.45 on BSE.
In a Twitter post, Goyal wrote, “Congratulations, @vijayshekhar and @Paytm on becoming profitable. Sorry, a bit late to the party – was so busy working on our own profitability ;-).”
Zomato will announce its earnings for the December quarter on Thursday, February 9. In the September quarter, the foodtech unicorn’s consolidated revenue surged 62.20 per cent to Rs 1,661.30 crore from Rs 1,024.20 crore in the corresponding quarter last year.
However, its consolidated net loss stood at Rs 250.80 crore which was higher than June quarter’s (Rs 186 crore loss) but less than the year-ago’s Rs 434.90 crore loss.
On the other hand, for the quarter ended December, the payment gateway services provider turned positive at the operating level three quarters ahead of its guidance. Paytm reported EBITDA before ESOP of Rs 31 crore in Q3FY23. The firm also narrowed its Q3 loss to Rs 392 crore for the quarter ended December from Rs 779 crore a year ago.
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