Zomato Share Price Today Live Updates for August 2, 2024: Zomato stock climbed about 19% on Friday to hit fresh highs on NSE and BSE. The stock closed 12% higher. Its net profit surged to ₹253 crore in the quarter ended March 31, up nearly 126 times compared to the corresponding period last year. Revenue from operations stood at ₹4,206 crore, up 74% in the quarter under review.
ALL UPDATES
- August 02, 2024 15:46
Stock market update Benchmark indices closed lower by 1% on Friday
BSE Sensex closed lower by 885.60 pts or 1.08% at 80,981.95, and Nifty 50 closed at 24,717.70, down by 293.20 pts or 1.17%.
- August 02, 2024 15:38
Zomato shares closing figure
Shares of Zomato closed higher by 12.24% on the NSE at ₹262.74.
On the BSE, the stock ended 11.98% positive at ₹262.15.
The stock has hit a 52-week high today on the NSE and BSE at ₹278.70 and ₹278.45, respectively.
- August 02, 2024 15:05
Zomato stock price update: Shares trade above 12%
Zomato shares rose 12.27% to trade at ₹262.81 on the NSE as at 3 pm.
On the BSE, the stock was up 12.22% to trade at ₹262.70.
- August 02, 2024 14:38
Stock market update: Sensex, Nifty falls 1%
BSE Sensex plunged 843.77 or 1.03% to trade at 81,023.78 as at 2.35 pm, and Nifty 50 fell 258.00 pts or 1.03% to trade at 24,752.90.
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- August 02, 2024 14:18
Zomato stock update: Zomato shares rise close to 13%
Zomato shares rose 12.75% on the NSE, trading at ₹263.94 as at 2.16 pm.
- August 02, 2024 13:22
Jump in profit turns Zomato’s shares into Asia’s best body: Bloomberg
Shares of food-delivery platform Zomato Ltd. were the best performers amid a sea of red in Asia on Friday after a 125-fold surge in quarterly profit triggered rating upgrades by several brokerages.
Shares surged as much as 19% to a record, with at least 18 brokerages raising their price targets.
The company’s latest growth guidance for quick commerce is “more aggressive,” compared with a total count of quick commerce outlets at 1,500 stores in India across players, according to Jefferies Financial Group Inc. analysts including Vivek Maheswari.
The rally in Zomato’s shares also pushed shares of some other Indian e-commerce firms higher. Info Edge (India) Ltd., which owns about 14% stake in Zomato, added 5.8% while Nykaa’s operator FSN E-Commerce Ventures Pvt. Ltd. gained 4.2%.
(Bloomberg)
- August 02, 2024 13:16
Stock market update: Auto, metals and realty stocks drag market lower
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- August 02, 2024 13:11
Zomato stock update: These brokerages maintained ‘buy’ call on Zomato
- CLSA on Zomato: Maintain Buy on Company, raise target price at Rs 350/Sh (Positive)
- UBS on Zomato: Maintain Buy on Company, raise target price at Rs 260/Sh (Positive)
- Citi on Zomato: Maintain Buy on Company, raise target price at Rs 280/Sh (Positive)
- GS on Zomato: Maintain Buy on Company, raise target price at Rs 280/Sh (Positive)
- August 02, 2024 13:08
Zomato stock in focus
Shares of Zomato rose 11.49% on the NSE to trade at ₹260.98 as at 1.06 pm.
- August 02, 2024 12:49
Zomato Q1 performance: Motilal Oswal on Zomato’s food delivery business
We believe Zomato’s food delivery business is now on a firm footing. GOV CAGR of 25% YoY would continue for the next 2-3 years, largely driven by increasing ordering frequency from its more mature cohort, as well as a steady conversion of its monthly “active” users to monthly transacting users. Its contribution margin of ~7.5% should improve only moderately from hereon. Its profit levers are now well balanced, but largely juiced out, whereas platform fees could eventually reach a ceiling in a pricesensitive market such as India, after all.
- August 02, 2024 12:48
Zomato share price update
Zomato shares were up 10.64% to trade at ₹259 on the NSE as at 12.46 pm.
- August 02, 2024 12:28
Shares of Zomato hit a 52-week high on the BSE at ₹278.45.
- August 02, 2024 12:18
Zomato stock: Intra-day trade: Zomato shares surge over 12 pc; hit 52-week high
Shares of Zomato surged more than 12 per cent on Friday after the food delivery aggregator reported a multi-fold jump in consolidated net profit to ₹253 crore for the June quarter.
In the intra-day trade, shares of Zomato advanced up to 19 per cent to hit a 52-week high of ₹278.70 and ₹278.45 apiece on the NSE and BSE.
The stock of Zomato zoomed 12.14 per cent to trade at Rs 262.50 apiece on the NSE.
On the BSE, it jumped 12.13 per cent to Rs 262.50 per piece.
Read more from PTI here - August 02, 2024 12:14
Zomato share price update: Zomato stock trades 12% higher on BSE, NSE
Zomato stock rose 12.35% on the NSE to trade at ₹263 as at 12.12 pm.
On the BSE, the stock was up 12.20% to trade at ₹262.65.
- August 02, 2024 12:07
Zomato among stocks that 52-week high on NSE today
Major stocks that hit a 52-week high on the NSE:
Zomato (11.86%), Nazara (7.40%), Bikaji (6.18%), Naukri (5.34%), TTK Prestige (4.02%), RITCO (2.14%), Tata Power (0.64%)
- August 02, 2024 11:57
Stock market update - Brokerage recommendations: Nuvama on Zomato
Each business continues to deliver fast-paced growth; reiterate ‘BUY’
Zomato continues to deliver on its promise of strong growth along with improvement in profitability. Management is not dialling down on growth ambition as they announced 2k dark store addition target by the end of CY26. We now value food delivery at ~USD14bn and Blinkit at ~USD13bn
- August 02, 2024 11:41
Shares of Zomato traded at ₹260.88 on the NSE, higher by 11.44% as at 11.39 am.
- August 02, 2024 11:33
Zomato stock brokerage recommendations: Emkay maintains buy call on Zomato
Zomato once again churned out impressive results, with all segments registering healthy growth. Food delivery GOV growth remained robust at 27% YoY, and Blinkit continued tracking its sturdy growth path with GOV up 130% YoY to Rs49.2bn. For Food Delivery, the management sees GOV growth sustaining at >20% in the near term, slightly lower than that in the last couple of quarters. Blinkit’s stellar growth is complemented by continued improvements in profitability, where it sustained adjusted EBITDA breakeven despite investing in new stores. The mgmt now targets a store-count of 2,000 for Blinkit by 2026, as it continues its expansion spree for seizing market opportunities. Zomato has also announced its intention of building a one-stop destination app for ‘going-out’ called District and sees this as its third-largest B2C business. We revise our FY25-27 EPS estimates by -2% to 4%, factoring in the Q1 performance and the aggressive store expansion plans for Blinkit. We maintain BUY on Zomato, raising Jun-26E TP to Rs270/sh on SOTP basis.
Emkay Global
- August 02, 2024 11:23
Zomato stock live update: JM Financial on Zomato’s Blinkit
Strong consumer traction and store expansion drives GOV growth, break-even guidance broadly achieved: Blinkit’s GOV grew a robust 130% YoY (+22% QoQ) to INR 49.2bn, rouhgly in-line with JMFe of INR 49bn. Growth was aided by 114% expansion in orders (+21% QoQ), which in turn was driven by MTU expansion to 7.6mn from 6.4mn/3.9mn in 4QFY24/1QFY24. AOV improved 1% sequentially, from INR 617 in 4Q to INR 625 in 1Q (+7% YoY). During the quarter, take-rate was flattish sequentially at 19.1% (+120bps YoY). While contribution margin expanded c.10bps QoQ to 4.0% (+470bps YoY), Adj. EBITDA loss as % of GOV narrowed to 0.1% vs. a loss of 0.9% last quarter, on the back of strong operating leverage.
- August 02, 2024 11:09
Zomato shares trade at ₹260.20 on the NSE, higher by 11.15 am as at 11.07 am.
- August 02, 2024 10:59
Zomato rockets to all-time high as Blinkit delivers stellar growth
Shares of Zomato surged as much as 19% to a record high on Friday, a day after the food delivery company’s first-quarter profit blew past expectations, powered by strong growth in its Blinkit grocery delivery business.
The stock’s surge defied the weakness in the broader market and its 15% increase as of 10:19 a.m. IST put it on course for its best one-day percentage jump since August 2022.
At least 9 of the 23 analysts covering Zomato raised their target price on the stock, per LSEG data, lifting the median target to 260 rupees, below the stock’s record high of 278.70 rupees on the day. Analysts’ average target is about 243 rupees.
(Reuters)
- August 02, 2024 10:57
Stock market live update: Sensex tanks by 650 pts
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- August 02, 2024 10:38
Zomato share price update
Zomato stock traded at ₹269.62 on the NSE, higher by 15.18% as at 10.36 am.
- August 02, 2024 10:35
Zomato stock among top gainers on BSE
Top gainers on the BSE as at 10.30 am:
Zomato (14.29%), GHCL (6.65%), Neuland Laboratories (5.63%), TTML (5.39%), DCAL (4.99%)
Top losers:
Cummins India (-7.77%), GR Infraprojects (-5.53%), Repco Home (-4.82%), Tata Motors DVR (-3.88%), Eicher Motor (-3.81%)
- August 02, 2024 10:25
Stock market update: Motilal Oswal on Zomato’s Blinkit
Blinkit, however, notoriously defies any attempts to value the stock fairly,due to its feisty growth and the disruptive and evolving nature of quickcommerce. Its gross order value (GOV) surged 100%+ YoY, and we believeBlinkit GOV is the most important factor driving variation for a DCF-basedprice target. With GOV growth assumed at 75% CAGR over FY24-FY28E, thetarget price is INR300 (Blinkit contribution INR171). If GOV growthmoderates to 50%, the TP drops to INR180 (Blinkit contribution INR100, inthis case). However, there may be upside risk to these GOV estimates,potentially unlocking more value. We expect adjusted EBITDA marginexpansion could be slower, as the management continues to expand darkstores (2,000 dark stores by FY26 vs. ~600 dark stores currently).
- August 02, 2024 10:24
Zomato stock market update: Motilal Oswal on Zomato stock
Zomato’s food delivery business is stable, and Blinkit offers a generational opportunity to participate in the disruption of industries such as retail, grocery and e-commerce. Our DCF-based valuation of INR300 suggests a 25% upside from the current price. We reiterate our BUY rating on the stock. We value the business using a DCF methodology, assuming 12.5% cost of capital. We maintain our BUY rating with a TP of INR300, implying 25% potential upside.
- August 02, 2024 10:22
Zomato stock in focus: “Speed meets profit”, Nuvama says
Maintain ‘BUY’ with a revised SotP-based TP of INR285 (earlier INR245) based on a valuation rollover to Sep-26E.
- August 02, 2024 10:19
Zomato stock price update
Zomato shares traded at ₹270.35 on the NSE, higher by 15.49% as at 10.16 am. Hits a 52-week high at ₹278.70.
- August 02, 2024 10:15
Zomato to launch ‘District’ app for out-of-home services: CEO Deepinder Goyal
Zomato is launching “District”, a new platform to consolidate going-out services such as dining, movies, sports ticketing, live performances, shopping, and staycations, CEO Deepinder Goyal said on Thursday.
In a letter to shareholders post the company’s first quarter financial results, Goyal shared that he sees “District” emerging as the third large B2C business out of Zomato.
“We believe that there is an opportunity to further expand our going-out offering, building on top of our dining-out business,” Goyal informed.
He observed that today, Zomato and Blinkit are our two large consumer businesses and both of them serve customers’ needs at home.
“However, we also have one of India’s largest ‘going-out’ businesses. Our dining-out business which helps our customers discover restaurants when they want to go out and dine at restaurants,” the Zomato CEO said.
This dining-out business is now operating at a run-rate of $500 million plus annualised GOV (gross order value) and is already profitable, Goyal stated.
Elaborating further, he said, additional use cases for customers in the going out space include movies, sports ticketing, live performances, shopping, staycations etc., some of which we have already launched, or are building as we speak.
“Building a one-stop destination app for going-out could be a game changer for each of these use cases, and we intend to do exactly that with our new District (by Zomato) app. If we execute this well, we see going-out becoming the 3rd large B2C business emerging out of Zomato,” Goyal said.
Inputs from PTI
- August 02, 2024 10:11
Zomato on Blinkit
Zomato said it plans to expand Blinkit’s dark store network to 2,000 stores by the end of 2026 while remaining profitable. “Most of these stores would be in top 10 cities in India. Beyond the large cities, the size of the market is still undiscovered,” said Albinder Dhindsa, Founder & CEO, Blinkit. Earlier, the company had said it aims to get to 1,000 stores by March 2025.
- August 02, 2024 10:10
Zomato stock in focus: Fund Houses Recommendations
- CLSA on Zomato: Maintain Buy on Company, raise target price at Rs 350/Sh (Positive)
- UBS on Zomato: Maintain Buy on Company, raise target price at Rs 260/Sh (Positive)
- Citi on Zomato: Maintain Buy on Company, raise target price at Rs 280/Sh (Positive)
- GS on Zomato: Maintain Buy on Company, raise target price at Rs 280/Sh (Positive)
- Axis on Zomato: Maintain Buy on Company, raise target price at Rs 287/Sh (Positive)
- Bernstein on Zomato: Maintain Outperform on Company, raise target price at Rs 275/Sh (Positive)
- MS on Zomato: Maintain Overweight on Company, raise target price at Rs 278/Sh (Positive)
- Macquarie on Zomato: Maintain Underperform on Company, target price at Rs 100/Sh (Neutral)
- August 02, 2024 10:02
Zomato stock climbed 12.22% on the NSE as at 10.01 am, trading at ₹262.70, surpassing the day’s earlier high at ₹261.
- August 02, 2024 10:01
Broker’s call: Zomato (Buy)
Axis Securities has initiated coverage on Zomato with a BUY recommendation and a Target Price (TP) of Rs 280/share, implying an upside of 23% from the current levels.
KS Badri Narayanan writes - August 02, 2024 10:00
Zomato’s net profit surges to ₹253 crore, revenue up 74 per cent in Q1
Zomato’s net profit surged to ₹253 crore in the quarter ended March 31, up nearly 126 times compared to the corresponding period last year. Revenue from operations stood at ₹4,206 crore, up 74 per cent in the quarter under review.
The company said Gross Order Value (GOV) of its B2C businesses stood at ₹15,455 crore, up 53 per cent year-on-year. Food delivery GOV grew 27 per cent year-on-year, quick commerce GOV was up 130 per cent while going-out GOV grew 106 per cent year-on-year. The B2B business Hyperpure’s revenue grew 96 per cent y-o-y.
On food delivery business, the company’s management said, “Between FY20 (pre-Covid) to FY24, food delivery GOV has grown at a CAGR of 30 per cent. With expected structural demand growth and robust supply side dynamics in India, we anticipate the industry to compound at the same rate over the next five years.”
- August 02, 2024 09:59
Zomato share price in focus
Zomato shares traded at ₹255.01, 8.94% higher on the NSE as at 9.35 am. The stock has hit a 52-week high today at ₹261 following Q1 results.
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