Zomato Ltd. continues to be a focal point for investors as it navigates through a dynamic market landscape. As of today, October 1, 2024, Zomato’s share price is reported at ₹198.84, reflecting a slight decline of 4.03% from its recent high of ₹207.20. This article delves into the latest performance metrics, price expectations, and significant news impacting Zomato shares.
Main Points
- 1 Zomato Shares Current Market Overview
- 2 Key Performance Indicators
- 3 Zomato Shares Technical Analysis
- 4 Support and Resistance Levels
- 5 Zomato Shares Trading Volume Insights
- 6 Recent Developments and Future Prospects
- 7 Zomato Shares Analyst Ratings and Predictions
- 8 Zomato Shares Future Price Expectations
Zomato’s stock has demonstrated notable volatility over the past year, with a remarkable increase of 159.03% compared to its performance a year ago. Despite recent fluctuations, the stock has shown resilience, with an upward trend of 61.8% over the last six months. The company’s market capitalization stands at approximately ₹174,112.29 crore as it maintains a strong presence in the food delivery sector.
Key Performance Indicators
- Current Share Price: ₹198.84
- 52-Week High: ₹207.20
- 52-Week Low: ₹73
- Market Capitalization: ₹174,112.29 crore
- P/E Ratio: 493.13
The stock’s performance has been buoyed by increasing retail and foreign institutional investor (FII) holdings, which have risen from 27.99% to 28.04% and 42.83% to 46.99%, respectively. This reflects growing confidence among investors regarding Zomato’s future prospects.
Support and Resistance Levels
Investors should pay attention to the following critical levels:
| Level Type | Price (₹) |
|---|---|
| First Support | 292.28 |
| Second Support | 287.57 |
| Third Support | 284.58 |
| First Resistance | 299.98 |
| Second Resistance | 302.97 |
| Third Resistance | 307.68 |
Recent technical indicators suggest bullish momentum with several crossover signals observed in moving averages. The stock is currently trading above its key moving averages, suggesting a potentially favorable outlook for short-term traders.
Today’s trading volume for Zomato shares is approximately 3.89 crore, indicating robust activity in the market. The average delivery volume percentage stands at about 40.34%, which reflects healthy investor interest in holding onto their positions.
Recent Developments and Future Prospects
Zomato’s recent financial results have painted a promising picture for investors:
- The company reported a consolidated net profit of ₹175 crore in Q4 FY24, significantly improving from a loss of ₹188 crore in the same quarter last year.
- Analysts are optimistic about Zomato’s growth trajectory, with several brokerages maintaining bullish ratings and target prices ranging from ₹230 to ₹277.
Moreover, Zomato is reportedly exploring acquisitions to expand its business footprint further, including potential deals related to ticketing services through Paytm Insider. Such strategic moves could enhance Zomato’s market position and diversify its revenue streams.
Brokerages like CLSA and Morgan Stanley have issued positive outlooks on Zomato shares, citing its impressive revenue growth and expanding market share against competitors like Swiggy. The adjusted revenue growth rate stands at an impressive 55.9% YoY, further solidifying Zomato’s competitive edge in the online food delivery space.
Market analysts suggest that if Zomato maintains its current growth trajectory, it could see its share price rallying towards the upper resistance levels mentioned earlier within the next few weeks. Investors should remain vigilant about market trends and global economic conditions that could influence stock performance.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
