Zomato Ltd (ZOMATO)

Zomato's Engaging Social Media Presence and Innovative Campaigns - 27 Apr, 2024

Zomato stands out in the crowded food delivery space with their engaging social media presence, witty banter with other brands, and innovative campaigns like Zomato Premier League. They regularly post blogs, videos, and city guides on their app and website, catering to a wide range of topics for their audience.

Zomato's Quick Commerce Business Valued Higher than Food Delivery by Goldman Sachs - 26 Apr, 2024

Goldman Sachs has assigned a buy rating to Zomato and raised its price target to ₹240 from ₹170. The brokerage firm believes that the implied value of Zomato's quick commerce business, Blinkit, is now larger than its core food delivery business. Blinkit is being valued at ₹119 per share at a $13 billion equity valuation, higher than the food delivery business, which is being valued at ₹98 per share.

Zomato Tests Priority Delivery Feature and Increases Platform Fee - 25 Apr, 2024

Zomato is testing a priority delivery feature that allows customers to receive their orders faster for an additional fee. The company has also increased its platform fee by 25%, making it Rs 5 per order. Zomato dominates the food delivery market with a 54% share in H1 2023, according to a Bernstein report. The company recently received a GST demand and penalty order totaling Rs 11.81 crore.

Zomato Pilots Extra Fees for Quicker Delivery - 24 Apr, 2024

Zomato is testing a feature to charge extra fees for faster delivery in select locations. In Q4 2023, Zomato's food delivery business reported a 30% YoY increase in adjusted revenue, reaching Rs 2,025 crore on a consolidated basis. The company also reported a net profit of Rs 138 crore against a loss of Rs 347 crore in the year-ago period. However, Zomato's stock is trading at over 100 times forward earnings, well above multiples for global peers.

Zomato Hikes Platform Fee by 25% - 23 Apr, 2024

Zomato has increased its platform fee by 25% to Rs 5 per order in select markets, citing business calls. The hike applies to major cities like Delhi-NCR, Bengaluru, Mumbai and Hyderabad. Zomato received tax demand orders aggregating to Rs 227.85 crore since March 15. In February, the company reported a consolidated net profit of Rs 138 crore for the December quarter.

Zomato Raises Platform Fee, Receives GST Demand Order - 22 Apr, 2024

Zomato raises its platform fee by 25% to ₹5 per order in select cities, following Swiggy's lead. The company also received a GST demand and penalty order of Rs 11.81 crore. However, analysts are bullish on the stock, with UBS expecting Zomato shares to hit ₹250 in the next year.

Zomato Increases Platform Fee by 25% - 21 Apr, 2024

Zomato has increased its platform fee by 25% to Rs. 5 per order in select cities, separate from delivery charges. The company's quarterly profit for Oct-Dec was Rs. 138 crore, compared to a loss of Rs. 347 crore in the previous quarter. Zomato has suspended its intercity delivery service due to legal issues.

Zomato Receives Tax Demand Order, JM Financial Raises Target Price - 20 Apr, 2024

Zomato received a tax demand and penalty order of Rs 11.81 crore related to GST on export services provided to its subsidiaries outside India from July 2017 to March 2021. The company intends to challenge the order. Meanwhile, JM Financial raised Zomato's target price by 30% to Rs 260 per share due to the rapid rise of Blinkit, Zomato's quick commerce business which continues to grow exponentially.

Zomato Turns Profit After 15 Years; Denies Rumors of Buying Shiprocket - 17 Apr, 2024

Zomato's shares have surged over 250% in the past year due to exponential growth seen in its quick-commerce business Blinkit. Despite various brokerages upgrading Zomato, Elara Securities has a target price of Rs 165 indicating a downside of 12.4%. Zomato and Shiprocket deny rumors of buyout.

Zomato Launches Large Order Fleet; Reports Consolidated Net Profit - 16 Apr, 2024

Zomato unveils India's first large order fleet for events and parties, while reporting a consolidated net profit of Rs 138 crore. The company's stock volume surged by 1.61 times over its two-week average daily volume.

Zomato Shares See Price Target Upgrades - 15 Apr, 2024

Zomato sees price target upgrades as brokerages raise estimates for the stock. UBS maintains buy rating with raised target price to Rs 250. Quick commerce growth and margin potential are underappreciated. The Indian market is expected to grow at a CAGR of 29%. Zomato's shares have seen a stellar run over the last 12 months since turning profitable.

Zomato Shares Hit Record Highs Amidst Bullish Views and Strong Growth Expectations - 12 Apr, 2024

Zomato's quick commerce business, Blinkit, continues to grow exponentially, leading JM Financial to raise its target price to Rs 260. Tata Neu is working with Magicpin on ONDC integration. Zomato shares hit a record high for the sixth consecutive session due to robust industry tailwinds and strong balance sheet.

Zomato Shares Surge as Revenues Rise and Performance Improves - 11 Apr, 2024

Zomato's share prices have surged over the past month, with an annual gain of 270%, following a strong Q3 performance that beat expectations. Analysts are optimistic about the company's future prospects, with revenue expected to continue climbing and potential upcoming triggers for the stock including food delivery EBITDA margin crossing 4% of GOV watermark and market share gains in Hindi heartland states.

Zomato Plans to Reduce Cash Burn Ahead of IPO - 10 Apr, 2024

Zomato, backed by Tata Digital and Zomato, plans to reduce its cash burn from Rs 15 crore to around Rs 10 crore ahead of an IPO in the next 2-3 years. The move comes after letting go of 120-150 employees in a cost-cutting drive.

Swiggy Valuation Nears Zomato's Amid Record High Share Price - 09 Apr, 2024

Swiggy's recent mark-ups have brought its valuation closer to that of rival Zomato, with Swiggy's share price reaching a record high of Rs 194.3 per share on April 9th. This has propelled Zomato's market capitalisation to over $20 billion.

Zomato Shares Hit Record High Despite Controversy - 08 Apr, 2024

Zomato shares reached a new high despite controversy surrounding the death of a child who ate food ordered through the platform. The incident has raised concerns about regulations for cloud kitchens on food delivery platforms.

Zomato Stock Reaches 52-Week High Amid Strong Financial Results - 06 Apr, 2024

Zomato's share price has surged by 29% in the last 15 days, reaching a historic high of Rs 190.50. The company reported strong Q3 FY24 financial results, including a profit of Rs 125 crore and consolidated adjusted revenue of Rs 3,609 crore, marking significant YoY growth.

Zomato Expected to Report Strong Q4 Performance - 05 Apr, 2024

Zomato is expected to report a healthy Q4FY24 performance, driven by growth in food delivery and Blinkit businesses. Kotak Institutional Equities has raised its target price to Rs. 210 and retained a buy call on the stock. Additionally, Blinkit has partnered with Sony to distribute PlayStation 5 Slim consoles in India.

Zomato Faces Service Tax Demand of Over ₹184 Crore - 03 Apr, 2024

Zomato has been served with a service tax demand and penalty order exceeding ₹184 crore for the period from October 2014 to June 2017. The company plans to contest the order before a suitable authority.

Zomato Receives Tax Demands; Co-Founder Leaves Magicpin - 02 Apr, 2024

Zomato has received two tax demands totaling Rs 276.28 crore for non-payment of service tax from its foreign subsidiaries and branches. The company plans to file an appeal against both orders. Meanwhile, co-founder of Zomato-backed Magicpin, Brij Bhushan, has left the company amidst strong financial performance.