Introduction: Zomato Share Targets 35% Returns, Brokerage Firm Predicts
Share market’s e-commerce sector Zomato share: The brokerage firm of the company which helps in finding food and restaurants online has given big targets under which investors in these shares can get returns of 35% in a short time. So initially we will look at the functioning of the company and its current position in the stock market. We are going to get detailed information about the status of returns and the targets set by the brokerage firm through today’s news article.
Zomato Ltd – Company Information
The company was started in 2018 by Deependra Goyal and Pankaj Chadda. On January 18, 2010, its name was changed to Zomato, which was earlier known as Fudibe. From 2011 to 2019, the company operated in 24 countries across the world. The company has expanded its operations to over 10,000 locations so far.
Zomato Share – Current Status
The market cap of the company is Rs 86,818.86 crore, so there is no debt on the company, along with this, the promoter holding of the company is also recorded as 0%, so an amount of Rs 398.30 crore is available in the form of free cash of the company. Sales growth was recorded at 30.36% and profit growth was 110.65%.
Return Information for Last 5 Years
If we take information about the returns of the company in the last 5 years, then the company has given returns of -4% in the last 5 years, -7% returns in the last 3 years, 59% returns in the last 1 year and 96% returns in the last 6 months. The company has registered a profit growth of 26.99% in the last 3 years and a revenue growth of 26.30% in the last 3 years.
Target from Brokerage Firm
In June 2023, the company had presented its quarterly results, in which the company had earned a profit of Rs 276 crore, which is more than the previous quarter, the company’s share is currently trading at ₹ 102 and its 52 week high level is ₹ 102.85. And the 52 week low level is recorded at Rs 44.35. Domestic brokerage Equirus firm is advising to buy it and has given it an upside target of Rs 135 in Zomato share, which can give the investor more than 35% return shot.
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