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New Delhi: Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to Rs 59 crore. The scrip of the company fell 11.81 per cent to Rs 212.50 apiece on…
New Delhi: Global brokerage firm Jefferies has downgraded Zomato’s shares to ‘hold’ as it revised the target lower, citing increasing competition as a threat to the online food aggregator’s profitability. Although valuations appear reasonable considering Zomato’s strong execution and growth opportunities, Jefferies is “worried on the rise in quick commerce competition.” Jefferies has set a…
New Delhi: Shares of Food delivery aggregator Zomato will be in focus on Friday (December 13) after the company got Rs 803.4 crore notice (including interest and penalty) from the GST department in Thane. The demand order has been received in respect of non-payment of GST on delivery charges with interest and penalty thereon, Zomato…
New Delhi: Antfin Singapore Holding on Tuesday divested a little over 2 per cent stake in online food delivery firm Zomato for Rs 4,771 crore through open market transactions. Antfin Singapore Holding Pte is an arm of Ant Financial Group, while the latter is a part of Chinese e-commerce giant Alibaba. According to the bulk…
New Delhi: Shares of online food delivery app Zomato hit an all-time high on Monday after foreign brokerage UBS remained positive about the company and raised its target price for the stock by Rs 60 to Rs 320. At 1.39 pm zomato shares were trading at Rs 267 apiece, up Rs 2.50 or 0.95 percent. Zomato’s…
Hindi News Business Platform Fee Hike Impact, Zomato Founder And CEO Deepinder Goyal Turns Billionaire As Shares Hit Record High Mumbai9 minutes ago copy link Zomato founder and CEO Deepinder Goyal (file photo). Shares of online food delivery platform Zomato Limited made an all-time high today on Monday (15 July). During trading, the company’s stock…