Shares of Zomato, now renamed Eternal Limited, jumped over 4% on Thursday to reach ₹231.75 on the BSE. Market experts believe the stock could climb even higher.
Domestic brokerage firm JM Financial has recommended buying Zomato shares. The stock’s 52-week high is ₹304.50, while the 52-week low is ₹146.85.
According to market experts, the share price may continue to rise. Domestic brokerage firm JM Financial has recommended buying the stock.
JM Financial Sets Target at ₹280
JM Financial has given Zomato a “buy” rating with a target price of ₹280. This means the stock has the potential to rise over 25% from Wednesday’s closing price of ₹222.05. Zomato’s market capitalization has now crossed ₹2.23 lakh crore.
In terms of financials, Zomato’s total income for the December 2024 quarter was ₹5,657 crore — a 12.69% increase from the September 2024 quarter, which saw an income of ₹5,020 crore.
Impressive IPO Growth
Zomato launched its IPO at ₹76 per share on July 14, 2021, and it was listed on July 23, 2021, at ₹115 on the BSE. Since then, the stock has surged about 330% in the past two years and 176% over the last three years.
The IPO was highly successful, with an overall subscription of 38.25 times. Retail investors subscribed 7.45 times, and non-institutional investors subscribed 32.96 times.
Up 330% in the last 2 years
Up 176% in the last 3 years
