Zomato is an Indian multinational restaurant aggregator and food delivery company. Based in Gurugram, a satellite city of India's capital New Delhi, the company was founded in 2008 as Foodiebay, and was renamed Zomato in January 2010 as Zomato Media Pvt Ltd. It offers services like home delivery of food, restaurant discovery, menus, reviews, online table reservations, special discounts while eating at select restaurants, and digital payments when dining out. It also works with restaurant partners to provide tools that enable them to engage and acquire more customers while empowering them with a last-mile delivery service and a one-stop procurement solution – Hyperpure, for ingredients and kitchen products. As of March 2021, Zomato was present in 525 cities in India, with 3,89,932 active restaurant listings along with a presence in 24 countries and in more than 10,000 cities outside India. Deepinder Goyal is the founder and chief executive officer (CEO) of Zomato. On July 23, 2021, Zomato went public, opening its Initial public offering (IPO) at a price band of Rs 72-76 per share. It made a stellar debut on Dalal Street as the stock opened at Rs 116 on the NSE, a 52.63 percent premium to its final offer price of Rs 76. The listing price on the Bombay Stock Exchange was at Rs 115, up 51.32 percent. More
In case of deletion, the 11 stocks that stand to get entry to Nifty Next 50 include Shriram Finance, AU Small Finance Bank, Trent, Indian Hotels, TVS Motor Company, Cummins India, Jindal Steel and Power, Polycab, Punjab National Bank, Zydus Lifesciences and Abbott India
The total amount raised through initial public offerings stood at Rs 52,116 crore in FY23, of which LIC alone was Rs 21,000 crore
The flip flops on Zomato by Jefferies' fund managers may not inspire a full-fledged TV series, but it can definitely be made into a three-episode mini-series, possibly titled The House of Contradictions.
Among the several changes being introduced on ONDC, some major ones will likely discourage buyers from using the network.
The Sensex was up 122.75 points or 0.20 percent at 62,969.13, and the Nifty was up 35.10 points or 0.19 percent at 18,633.80. About 1,640 shares advanced, 1,766 shares declined, and 112 shares unchanged.
Over 22 lakh shares changed hands at a price of Rs 68.1 apiece, amounting to a transaction value of approximately Rs 15.2 crore.
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In Chris Wood’s weekly newsletter, he detailed how some of the Asia (ex-Japan) portfolios have been changed
Baron Capital has now slashed the fair value of Swiggy for the second time in three months, similar to the US-based asset management company Invesco. Invesco effectively halved Swiggy's valuation to $5.5 billion as of January 31, 2023.
Zomato shares gained 4.4 percent to settle at Rs 67.30, the highest closing level since December 2 last year, and formed long bullish candlestick pattern on the daily scale with above average volumes. The stock has given a nice breakout for the Mother candle of May 9, which is a positive sign, with trades above all key moving averages.
The Rajasthan government has introduced the Rajasthan Platform-based Gig Workers (Registration and Welfare) Bill, 2023. This will help to formulate schemes for the benefit of the gig workers, provide them immediate financial assistance in case of accidents and medical emergencies, and offer them health insurance coverage under state government schemes
PB Fintech has done a much better job of turning the corner on profitability, in part because of its business model. Zomato, on the other hand, stuck in a line of business seeing increasing competition, is still bleeding
Motilal Oswal recommended Neutral rating on Zomato with a target price of Rs 80 in its research report dated May 22, 2023.
Indian markets edge higher amid volatility caused by concerns related to the US debt ceiling crisis. Midcap and smallcap indices are trading with marginal gains while benchmark indices were off the day's high. Nandita Khemka & Yatin Mota discuss the newsmakers on their radar including BEL, BPCL, Zomato & Delhivery only on Closing Bell.
Zomato joked with a meme that 72 per cent of cash on delivery orders since the RBI announcement have been in Rs 2,000 notes.
Zomato’s AOV has marginally increased for the past year — growing 2 percent from Rs 398 in FY22 to Rs 407 in FY23 at a time when the food inflation index swung between 4.2 percent and 8.2 percent.
Nomura has maintained its sell rating on the stock and kept its target price unchanged at Rs 45, down 30 percent from its current market price.
On Opening Bell we will track Delhivery, Zomato, Delhivery, Divi’s Labs and Bharat Electronics earnings. Catch Nickey Mirchandani in conversation with Prashant Sawant, Founder, Catalyst Wealth and Dipan Mehta, Founder – Director, Elixir Equities
Nifty staged a recovery from intra-day lows to settle above the 18,200 mark but it snapped a 3-week winning streak to lose around half a percent on a weekly basis. FII flows have been strong in May, will the Nifty manage to reclaim 18,300 this week? Divi’s Lab, NTPC, JSW Steel, Bandhan Bank, and Delhivery have reported earnings post market close on Friday. Meanwhile, Zomato has narrowed its losses in the fourth quarter and the foodtech giant hopes to achieve profitability in the next 4 quarters. We discuss the numbers and how one should play this stock post Q4 earnings with Elara Capital’s Karan Taurani. We’ll also discuss the cues for trade and get you stock picks from Rajesh Palviya of Axis Securities. Watch!
Zomato also said that its next goal was to get to positive adjusted EBITDA and also profit after tax (PAT) on a consolidated basis, this time including Blinkit-related expenses, within the next four quarters.
The company has appointed a CEO and COO for its food ordering and delivery business, and a new CEO for its Hyperpure business.
This is the first time any of the largest two players, in the food delivery market, have reacted on the ONDC, which was initially touted to be a duopoly killer in the food delivery space.
Blinkit is exploring whether it can make our neighbourhood services like electricians, plumbers, etc. more accessible to customers