Zomato Share Price: The Indian stock market remains weakness, meanwhile, one of the market's top brokerage firms, Bernstein Brokerage has given big news on online food delivery company Zomato on Tuesday.
Bernstein Brokerage has estimated Jomato's stock up to 39 per cent on a closed price of Rs 222 last Monday. Today, on Tuesday, +6.83 (3.07%) is trading at 229.52.
Brokerage Bernstein has given outperform ratings on Jomato's stock. Apart from this, Bernstein Brokerage has fixed the target price of Jomato at Rs 310 per share, which is more than Rs 304, the recent high level of Jomato shares. Currently, Jomato's stock is trading below its highest level from Rs 304 to 27 per cent.
Jomato has given a total return to its investors in the last 1 year. At the same time, in the last one month, the share price has seen a rise of 5 percent. However, in the last 6 months, the share price has fallen by 15 percent and 17 percent in the last 3 months.
Bernstein Brokerage further said that at this time the intensity of competition in India's Quick Commerce Business remains a major debate. The dollars spent on marketing by Jomato and his rival Swiggy and Zapto are steadily increasing.
Brokerage Bernstein further said that he hopes that Jomato Quick Commerce will continue to play his leadership role in business.
Jomato is also in discussion because this time it will be included in the index as part of the half-yearly reorganization of the upcoming Nifty 50 index, which will be implemented effectively from March 28, 2025.
In addition, recently the emerging vision of the Zomato Company was seen when the company said that it has decided to re-brand as Eaterial Limited. The main objective of which is to try to move beyond your food delivery origin.
The 52 -week high of Jomato stock is Rs 304 while the low level of 52 weeks is Rs 144. The total market capitalization of Jomato company is Rs 214817 crore.
