Shares of Zomato, an online food delivery company, have seen tremendous growth in trading since Friday (April 12). The company’s shares increased by 1.49 percent at the market opening, hitting a high of Rs 199.75 on the BSE.
The price of the company’s shares has reached its highest point to date. Following an increase in the share price target by JM Financial, Zomato shares have surged. A domestic brokerage company has projected a 32% increase in Zomato.
JM Financial gave a buy rating to Zomato shares. For this, the business has set a target price of Rs 260 per share, up from Rs 200 previously. According to the brokerage firm, Blinkit’s quick commerce business is expanding quickly and is expected to do so in the future. Zomato has set a price goal of Rs 400 per share for the next three years. Zomato owns Blinkit as a subsidiary.
In the past year, Zomato’s stock has returned 268 percent. During the past six months, the stock has returned 78% of its initial investment. In addition, investors have received a 24 percent return on their investment over the past year from the stock. The market capitalization of the company has reached Rs 1.70 lakh crore.
. The company's shares increased by 1.49 percent at the market opening, hitting a high of Rs 199.75 on the BSE.){kind=link}