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Ordering achievements: Zomato’s share price hits an all-time high today

01 March 20244 mins read by Angel One
If someone had invested Rs 1 lakh when the stock was at its all-time low, it would now be valued at around Rs 4 lakh.
Ordering achievements: Zomato’s share price hits an all-time high today
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Zomato, an online food delivery giant, has impressed its shareholders by consistently reporting profits in the last three quarters. Today, the company’s shares reached the previous peak levels of Rs 169 per share, which were recorded on November 16, 2021.

Share Performance

At the start of the day, Zomato’s share opened at Rs 167.60 per share on the BSE. During the morning session, it crossed its previous peak of November 2021, hitting an all-time high of Rs 173.45 on the BSE. Currently, the shares are trading at Rs 166.05 per share, and the market cap of the company stands at Rs 1,46,187 crore on the BSE. Zomato’s stocks have delivered an impressive return of around 45% in the past three months and a remarkable multibagger return of over 200% in the past year.

From its November 2021 peak, Zomato’s share price fell by around Rs 40.60 per share, reaching an all-time low. From this level, the company started gaining momentum and never looked back. If someone had invested Rs 1 lakh when the stock was at its all-time low, it would now be valued at around Rs 4 lakh.

Stocks Price Chart (Weekly)

Stocks Price Chart

IPO Flashback

Zomato’s IPO was launched in July 2021 with a price band of Rs 72 to Rs 76 per share, hitting the Indian market on July 23, 2021, at a premium of 51% at Rs 115 per share. The total size of the IPO was Rs 9,375 crore, out of which Rs 9,000 crore was the fresh issue, and the remaining Rs 375 crore was anOffer for Sale. Post-listing, the stock touched an all-time high of Rs 169 per share on November 16, 2021.

Turning our attention towards subscription, the IPO was subscribed 38.25 times, with retail subscription at 7.45 times. The QIB and NII categories reached 51.79 times and 32.96 times, respectively.

Financial Performance

During the December quarter, the company reported revenues of Rs 3,288 crore, showcasing an impressive growth of 69% YoY compared to the revenue of Rs 1,948 crore in the same quarter last year. The company’s operating profit stood at Rs 51 crore, resulting in an operating profit margin of 2%, a significant improvement compared to an operating loss of Rs 366 crore. Moreover, the company reported a net profit of Rs 138 crore, a positive shift from a net loss of Rs 347 crore. Furthermore, the company has reported profits consistently for the last three quarters, and as the Q4 is pending, let’s hope for the best for the company.

Investors must keep this stock on their radar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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