Zomato continues its impressive run, reaching a new record high on the stock market today! The Indian food delivery giant’s stock price crossed ₹214 (around $2.70 USD) for the first time ever, pushing its total market value close to a whopping ₹2 lakh crore (around $25 billion USD). This comes after a streak of 14 months out of the last 15 where Zomato’s stock price has gone up.
This hot streak has resulted in a massive 310% return for Zomato shareholders in just over a year. That’s compared to a much smaller 94% gain for the Nifty Next 50 index, which tracks the performance of the next 50 largest companies in India after the top 50.
With all this good news, investors are naturally wondering: can Zomato’s stock keep climbing? Analysts seem to think so. Several recently upgraded their ratings on the stock, which can lead to further increases in price. Additionally, Zomato’s potential for future expansion, both within India and abroad, is another reason for optimism.
However, it’s important to remember that the stock market is unpredictable. While things look bright for Zomato right now, there’s always a chance of a correction in the future. Before making investment decisions, it’s important for investors to assess their own risk tolerance carefully.
Overall, Zomato’s record-breaking run is a positive sign for the company and the Indian food delivery industry as a whole. With strong financials, a competitive edge, and a favorable market environment, Zomato’s future looks bright.