Zomato Share Price Achieves 52-Week High: Insights and Analysis

Zomato Share Price Today : On the last day, Zomato’s stock opened at ₹134.4 and closed at ₹134.45. The high for the day was ₹136.15, while the low was ₹132.35. The market capitalization of the company stands at ₹115,189.11 crore. The 52-week high for Zomato’s stock is ₹135, and the 52-week low is ₹44.35. The BSE volume for the day was 2,883,725 shares.

Zomato share Price hit 52 Week High

Portions of Zomato Ltd scaled 2% to hit a 52-week high of ₹137.95 each on the NSE after worldwide business firm HSBC relegated a ‘Purchase’ rating on the stock and raised the objective cost to ₹150, recommending a potential gain of 11% from the ongoing business sector levels. At 2 pm, the scrip was exchanging 2.08% higher at ₹137.35 per share.

Target Price

Zomato has an agreement target cost of ₹135.88 per share. The stock has risen 150% in 2023, and is up more than 10% up until this point this year.
After a very impressive 2023, the unfamiliar financier expects moderately muffled business and stock execution in 2024. Notwithstanding, HSBC said that Zomato’s drawn out view stays valuable.

“Since Zomato is profoundly reliant upon proceeded with movement of fast trade business, any lull in speedy business development will be a key disadvantage risk,” it said.

Expert analysis

Investigators at Elara Protections have likewise shared a ‘Purchase’ rating on the counter with an objective cost of ₹150, saying the organization’s higher comfort expenses, publicizing pay and commission from cafés were key switches to further develop benefit of the food-conveyance business.”We expect another 10-20 premise point development each in the take pace of FY25E and FY26E because of gradual accommodation charge of Re 1 in select business sectors,” the financier house said.

Notice over a tax liability

The food conveyance monster as of late gotten a Decent and Administrations Expense (GST) notice over a duty risk of ₹401.7 crore. The Directorate General of GST Insight (DGGI) had sent charge notice to Zomato for not paying GST on conveyance charges and said the conveyance charges fall under the administrations class and the organizations are responsible to pay 18% GST.

Zomato answered a show cause notice gave by DGGI and said it isn’t responsible to cover any duty and said, “The conveyance charge is gathered by the organization for the benefit of the conveyance accomplices. Further, considering the legally binding agreements commonly settled upon, the conveyance accomplices have given the conveyance administrations to the clients and not the organization.”
“This is likewise upheld by feelings from our outside legitimate and burden counsels. The Organization will record a suitable reaction to the show cause notice,” Zomato said in a revelation explanation.

For APS ipo:

Frequently Asked Questions?

1. Where is Zomato listed? Zomato is listed on stock exchanges. it is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India.
2. How can I check the current Zomato share price? You can check the current Zomato share price on financial news websites, stock market apps, or the official website of the stock exchange where it is listed. Many financial news platforms also provide real-time stock quotes.
3. What factors influence Zomato share price? The share price of any company, including Zomato, is influenced by various factors. These can include financial performance, market conditions, industry trends, company news, management decisions, and broader economic factors.
4. How do I buy Zomato shares? To buy Zomato shares, you typically need to open a trading account with a registered stockbroker. Once your account is set up, you can place buy orders for Zomato shares through the broker’s trading platform.
5. What are the risks associated with investing in Zomato shares? Investing in stocks always comes with risks. Specific risks for Zomato could include market volatility, competition in the food delivery industry, regulatory changes, and the company’s ability to maintain or increase its market share and profitability.
6. Does Zomato pay dividends? As of my last knowledge update, Zomato was not known for paying dividends. However, dividend policies can change, so it’s important to check the latest financial reports or company announcements for the most current information.

Remember to consult with a financial advisor or conduct thorough research before making any investment decisions. If you have specific questions about Zomato’s recent performance or changes, please refer to the latest financial reports and news updates.