Zomato Shares Reach Life High
Zomato, one of the major players in the delivery and quick service industry, has had a relatively stable period in the equity market recently. The shares of the company jumped to their all-time highs in the intraday trading session on Thursday, December 5.
In the bargain, the shares of the Deepinder Goyal-led company breached the Rs 300 per share mark.
Zomato In BSE 30
This comes at the back of another major Dalal Street-related development for the company. In November, the Gurugram-based delivery company was added to the Bombay Stock Exchange (BSE) Sensex’s 30 constituent companies.
Zomato replaced JSW Steel in the process to claim its spot in the elite 30.
Companies are considered on the list, depending on the company’s balance sheet and its strength. It has to be a large-to-mega-cap company. The stocks of the company in question should be relatively liquid.
The entity in consideration should generate revenue from core activities.
Zomato, the company that was listed in July 2021, has seen its fortunes steadily rise with investments in crucial verticals. Zomato, which recently increased the strength of its stake in Blinkit (formerly Grofers), appears to betting high on the quick service industry.
This industry is dominated by Zomato, its rival, Swiggy (Instamart) and others like Zepto, who have recently emerged onto the scene.
Zomato Shares On The High
Zomato shares opened on Thursday at Rs 288.25, higher than the previous day’s closing of Rs 286.25.
Monthly gains |
While slumping to Rs 286.85 per share, Zomato shares rose to its 52-week high of Rs 304.65 per share.
Daily gains |
In the past month of trade Zomato shares have risen by over 23 per cent or over Rs 57.
At the time of writing, the company share’, listed on the National Stock Exchange, surged and stood at 4.75 per cent or Rs 13.60, taking the overall value of Zomato shares to Rs 299.85.
