Friday , September 20 2024

Zomato Share: Zomato again made a new 52-week high, is this the right time to book profit or buy?

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zomato share price: Zomato’s stock is witnessing a steady rise. Zomato shares rose 4% to a new all-time high of Rs 283.60 on Thursday. Global brokerage firm UBS maintained a buy rating on the stock with a target price of Rs 320 due to optimism about the company’s growth. Recently, Paytm sold its entertainment ticketing business to online food aggregator Zomato for Rs 2,048 crore.

Zomato Share Price Strategy

The stock has made its bottom, the stock has maintained an upward trend throughout the year. Analysts recommend maintaining a stop loss of Rs 250 on Zomato stock.

Zomato Q4 results FY24

Zomato reported a consolidated net profit of Rs 175 crore for the quarter under review, as against a loss of Rs 188 crore in the same period a year ago. Apart from this, revenue from operations stood at Rs 3,562 crore, as against Rs 2,056 crore in the same quarter of the previous fiscal.