Zomato Share Price on 3rd September, tremendous buying may come after the fall till Rs 232.
On September 2, 2024, Zomato’s share price closed at ₹244.55, reflecting a slight increase of 0.64% during the day. Investors are keenly watching this stock as they prepare for trading on September 3. This article will explore the live updates, price forecasts, market performance, technical and fundamental analysis, and key factors influencing Zomato’s share price.
Main Points
- 1 Live Today, Next Day Price Forecast
- 2 Market Performance of Zomato Share Price
- 3 Technical Analysis of Zomato Share Price
- 4 Fundamental Analysis of Zomato Share Price
- 5 Today Target Prediction of Zomato Share Price
- 6 Intraday Trading Levels of Zomato Share Price
- 7 Quarterly Results Analysis
- 8 Market Outlook of Zomato Share Price
- 9 Tomorrow: How to Perform Expected
- 10 Compare Peer Stocks
- 11 Key Factors Influencing Price Movement
- 12 Bearish and Bullish Trends: Find Out
- 13 Today Update News
- 14 Important Levels
- 15 Movement Causes and 52 Week High Low
Live Today, Next Day Price Forecast
As of September 2, Zomato’s share price was ₹244.55. The stock has shown fluctuations in recent weeks, with a notable decline from its previous high of ₹280.00. Analysts suggest that the stock could face resistance around the ₹250 mark in the upcoming trading sessions. If it breaks through this level, it may signal a bullish trend, while a failure to do so could lead to further bearish movement.
Zomato’s market performance has been mixed recently. Over the last month, the stock has experienced a decline of approximately 6.88%. However, over the past year, it has shown impressive growth of 151.36%. This volatility indicates that while the stock has the potential for significant gains, it also carries risks that investors must consider.
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From a technical standpoint, Zomato’s stock has been under pressure, with the Moving Average Convergence Divergence (MACD) indicating a bearish trend. The stock’s price has fallen below its 50-day moving average, suggesting that short-term momentum may be weak. Traders should watch for a potential rebound if the stock holds above the ₹240 support level.
Zomato’s fundamentals remain strong, with a market capitalization of ₹2,29,528 crore. The company’s earnings per share (EPS) stands at ₹0.68, and it has a high price-to-earnings (PE) ratio of 381.28, indicating that investors are willing to pay a premium for its growth potential. Recent quarterly results showed a total income of ₹4,442 crore, with a profit of ₹253 crore, reflecting the company’s ongoing recovery post-pandemic.
For September 3, analysts predict a target range for Zomato’s share price between ₹240 and ₹250. If the stock can maintain its position above ₹240, it may attract more buyers, pushing the price higher. Conversely, if it falls below this level, it could trigger further selling pressure.
Intraday traders should focus on key levels:
- Support Level: ₹240
- Resistance Level: ₹250
Monitoring these levels will help traders make informed decisions throughout the trading day.
Quarterly Results Analysis
Zomato’s quarterly results have been a focal point for investors. The company reported a profit of ₹253 crore for the quarter ending June 30, 2024, on a total income of ₹4,442 crore. This performance indicates that Zomato is on a growth trajectory, although its high PE ratio suggests that investors are cautious about future earnings.
Looking ahead, the market outlook for Zomato remains cautiously optimistic. Analysts believe that if the company continues to expand its services and improve profitability, the stock could regain its upward momentum. However, external factors such as market sentiment and competition in the food delivery sector could impact its performance.
Tomorrow: How to Perform Expected
For tomorrow, investors should keep an eye on global market trends and news related to Zomato. Any positive developments, such as partnerships or innovations, could boost investor confidence and lead to price appreciation. Conversely, negative news could result in a decline.
Compare Peer Stocks
Zomato operates in a competitive landscape. Its peers include companies like Info Edge (India) and FSN E-Commerce. Comparing Zomato’s performance with these companies can provide insights into its market position and growth potential. For instance, Info Edge has shown stable growth, which could influence investor decisions regarding Zomato.
Key Factors Influencing Price Movement
Several key factors could influence Zomato’s share price in the coming days:
- Market Sentiment: Overall market conditions and investor sentiment will play a crucial role.
- Earnings Reports: Upcoming earnings reports from Zomato and its competitors may sway investor opinions.
- Regulatory Changes: Any changes in regulations affecting the food delivery sector could impact Zomato’s operations and profitability.
Bearish and Bullish Trends: Find Out
Currently, Zomato is experiencing a bearish trend, with recent price movements indicating a lack of buying interest. However, if the stock can stabilize and show signs of recovery, it could shift into a bullish trend.
Today Update News
In recent news, Zomato announced its acquisition of Paytm’s entertainment ticketing business, which could diversify its revenue streams and enhance its market presence. This strategic move is expected to attract more customers and improve overall performance.
Important Levels
Investors should be aware of the following important levels for Zomato:
- 52-Week High: ₹280.90
- 52-Week Low: ₹88.30
These levels provide context for Zomato’s current price and potential future movements.
Movement Causes and 52 Week High Low
The recent decline in Zomato’s share price can be attributed to broader market trends and investor profit-taking after the stock reached its 52-week high. As the market stabilizes, Zomato’s performance will likely reflect its operational efficiency and growth strategies.
Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock
