Zomato Stock On A Bumpy Ride

Zomato Stocks Down

Shares of Zomato have been on a bumpy ride of late. The stock is down over 56% from its 52-week high of Rs 148.85

Zomato's Current
Share Price

The stock ended 4.5% lower at Rs 65.5 on BSE on December 5, 2022. The market cap of the firm fell to Rs 56,013.93 crore

Zomato's Stake Sale

Recently, Alipay Singapore Holding PTE sold 26.28 crore shares of Zomato at 62.06 a piece worth Rs 1,631.39 crore

Tamesak emerged
as a buyer

Camas Investments PTE, a wholly-owned subsidiary of Temasek, bought 9.8 crore shares of Zomato at Rs 62 a piece worth Rs 607.60 crore

What's next
for Zomato?

"The ecosystem of food delivery is here to stay while the market is further consolidating," says Divam Sharma of Green Portfolio. We are seeing a new set of FPIs and institutional investors entering the business at these levels, he adds

Brokerages bullish
on Zomato

JM Financial said the near-term growth blip could provide an interesting entry point for investors to accumulate positions

Kotak Institutional
Equities on Zomato

Kotak Institutional Equities has a target of Rs 100 on the Zomato stock

Zomato's Debut on
D-Street

Zomato made a bumper debut on bourses with the unicorn hitting the Rs 1-lakh crore market capitalisation mark. Zomato's stock opened at Rs 116, 52.6 per cent higher on NSE against the issue price of Rs 76

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