Zomato Ltd (ZOMATO)

Zomato's Stock May Benefit from Budget Announcements - 23 Jul, 2024

Zomato plans to increase focus on live entertainment and expand its quick commerce and food delivery arms. The stock may benefit from any budget announcements that push consumption, such as lowering income tax rates.

Zomato's Quick Commerce Valuation Estimated at $13 Billion - 22 Jul, 2024

Separate valuations for Swiggy and Zomato's quick commerce verticals have not been provided, but Goldman Sachs valued Zomato's Blinkit unit at $13 billion in April. Swiggy is expected to price itself lower than Zomato.

Zomato's Quick Commerce Vertical Expects Growth; Peers See Decline - 19 Jul, 2024

Zomato's quick commerce vertical, Blinkit, anticipates surpassing its core food delivery business in size. Meanwhile, Zomato's technology peers, such as Zomato and PB Fintech, experienced a decline.

Zomato Stock Falls as Company Reports Net Profit in Q4 FY24 - 18 Jul, 2024

Zomato's stock fell 3.33% to hit a low of Rs 210.20 after the company reported a consolidated net profit of Rs 175 crore in Q4 FY24. However, Zomato has backed PROMAFT Partners, a Rs 1,000-crore venture capital fund that seeks to invest in companies with exceptional product-market-fit.

Zomato Shares Dip After Record Highs Amid Analyst Recommendations - 17 Jul, 2024

Zomato shares slip after reaching an all-time high of Rs 232, with analysts suggesting buying on dips and support at Rs 200. The company reported a consolidated net profit of Rs 175 crore for Q4 FY24.

Zomato Shares Rally as CEO Joins Billionaire Club; Motilal Oswal Sells Stake - 16 Jul, 2024

Shares of online food delivery aggregator Zomato rallied after founder and CEO Deepinder Goyal joined the billionaire club. Meanwhile, Motilal Oswal Mutual Fund sold its stake in Zomato for Rs 646 crore through an open market transaction, with buyers including Axis MF and Citigroup Global Markets Mauritius.

Zomato Market Cap Crosses Rs 2 Trillion - 15 Jul, 2024

Zomato's market capitalization crossed Rs 2 trillion as its stock price reached an all-time high of Rs 232 per share. Founder and CEO Deepinder Goyal joined the billionaire club with his shareholding value spiking to over Rs 8,000 crore. The company's performance has been improving, especially its quick commerce play, Blinkit.

Zomato Shares Hit New High Amid Positive Analyst Ratings and Feature Updates - 12 Jul, 2024

Zomato's stock continues to rise as UBS maintains a buy rating and Elara Capital predicts strong Q1FY25E revenue. The company also introduces a new feature allowing users to delete their order history. However, a Karnataka consumer court orders Zomato to pay compensation for an undelivered order.

Zomato Shares Reach Record High - 11 Jul, 2024

Zomato's stock reaches a new milestone, hitting an unprecedented Rs 216 per share on July 11, more than Rs 100 above its listing price. Analysts attribute the spike to strong financials.

Zomato Celebrates 16th Anniversary with Special Offer - 10 Jul, 2024

Zomato, the popular food delivery platform, celebrated its 16th anniversary by offering an exclusive Zomato Gold membership at a discounted price of ₹30 for six months as a token of gratitude to its users.

Zomato Share Price Hits All-Time High - 09 Jul, 2024

Zomato's share price hit an all-time high of ₹214, up 3% in intraday trade. The stock has seen remarkable growth, delivering a 428% return from its lowest point. Several global brokerage firms express positive views about the stock.

Zomato Relaunches Intercity Legends Service and Approves New ESOP - 08 Jul, 2024

Zomato has relaunched its Intercity Legends service, now renamed Legends, allowing customers to order iconic dishes from other cities in India. Additionally, Zomato has received approval to create a new employee stock option pool of 18.2 crore shares.

Zomato Eyes Growth Through Acquisitions and Strong Q1 Performance - 05 Jul, 2024

Zomato is exploring acquisition opportunities and experiencing positive analyst sentiment, with JM Financial setting a target price of Rs 250 and analysts anticipating strong Q1FY25 performance. The company has also suspended its logistics business Xtreme while relaunching intercity food delivery offering Legends.

Zomato Relaunches Intercity Legends Service and Increases Minimum Order Value - 04 Jul, 2024

Zomato has restarted its Intercity Legends service with a minimum order value of Rs 5,000 and received shareholder approval for a new ESOP pool. JM Financial cut Zomato's target price by 8% due to ESOP costs.

Zomato Subsidiary Withdraws NBFC Licence Application - 03 Jul, 2024

Zomato's wholly-owned subsidiary, Zomato Financial Services, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India (RBI), stating that the company does not have plans to pursue lending in the future. The company recorded a Q4 profit of Rs 175 crore and an FY24 profit of Rs 351 crore. A brokerage firm recommended buying Zomato shares for 2-3 days with a target price of Rs 222.

Zomato Receives Shareholder Nod for New ESOP Pool; Withdraws Application to Operate as NBFC - 02 Jul, 2024

Zomato's shareholders approve the establishment of a new ESOP pool worth around Rs 3,800 crore. Morgan Stanley maintains an overweight rating on Zomato with a target price of ₹235 per share. Zomato Financial Services Limited withdraws its application to operate as NBFC.

Zomato Faces GST Demand Notice Amid Stock Rise - 01 Jul, 2024

Zomato faces a GST demand notice of Rs 9.45 crore while its stock rises 1.57% due to reports of entering derivatives trading and joining the NSE Nifty 50 index.

Zomato Receives Fresh GST Demand Notice - 30 Jun, 2024

Zomato has received a fresh Goods and Service Tax (GST) demand notice for about Rs 9.45 crore with interest and penalty from the Assistant Commissioner of Commercial Taxes (Audit), Karnataka, which will be appealed by the company.

Zomato's Prospects Look Bright Amidst New Developments - 28 Jun, 2024

Zomato has strong prospects of joining the blue-chip Nifty50 index, according to a report by Nuvama Alternative & Quantitative Research Analysis. Additionally, Zomato launches Restaurant Services Hub and is reportedly in talks to acquire Paytm Insider.

Zomato Expands Restaurant Services Hub - 27 Jun, 2024

Zomato is expanding its restaurant services hub across India, offering staffing and licensing essentials to help restaurants scale up. The move aims to simplify the complexities of running a restaurant, from finding suppliers to hiring staff.