Zomato Stock: Shares of an online food delivery app Zomato put a smile on investors’ faces in 2024. This stock (stock market) has given a 155 percent return in one year and profit from the beginning of 2024. Share price increased by 112 percent. This year, out of 8 months, positive returns have come in 7 months in this stock (Zomato Share Price). But now investors are questioning whether it is right to invest in Zomato shares. The global brokerage firm advised investors in this regard. Will Zomato’s share increase further?
The brokerage firm has raised its target price on Zomato shares:
On Tuesday, i.e., today, the share price of Zomato fell by Rs 7.30 and now stands at Rs 249. Global brokerage firm Nomura said Zomato’s shares could rise further, touching the Rs 280 mark. The stock has been given a buy rating by the brokerage firm. This share has the potential to increase by 9 percent, said the brokerage firm. The momentum in this stock is due to the strong results of the quarter. Not only does it earn from food delivery, the company also makes good profits from Bleak It.
The price has increased by 14 percent in 4 days:
Zomato stock price has increased by 14 percent in just the last 4 days. Earlier, the share price rose 14 percent in June and 14.4 percent in July. However, the share price fell by 7.25 percent in May. The share price increased by 12.8 percent in January, 18 percent in February, and 10 percent in March. Shares of Zomato have gained 6 percent this year in April as well. As a result, Zomato’s share price has been increasing since the beginning of the year.