Shares of Zomato have been on a bumpy ride of late. The stock is down over 56% from its 52-week high of Rs 148.85
Zomato's Current Share Price
The stock ended 4.5% lower at Rs 65.5 on BSE on December 5, 2022. The market cap of the firm fell to Rs 56,013.93 crore
Zomato's Stake Sale
Recently, Alipay Singapore Holding PTE sold 26.28 crore shares of Zomato at 62.06 a piece worth Rs 1,631.39 crore
Tamesak emerged as a buyer
Camas Investments PTE, a wholly-owned subsidiary of Temasek, bought 9.8 crore shares of Zomato at Rs 62 a piece worth Rs 607.60 crore
What's next for Zomato?
"The ecosystem of food delivery is here to stay while the market is further consolidating," says Divam Sharma of Green Portfolio. We are seeing a new set of FPIs and institutional investors entering the business at these levels, he adds
Brokerages bullish on Zomato
JM Financial said the near-term growth blip could provide an interesting entry point for investors to accumulate positions
Kotak Institutional Equities on Zomato
Kotak Institutional Equities has a target of Rs 100 on the Zomato stock
Zomato's Debut on D-Street
Zomato made a bumper debut on bourses with the unicorn hitting the Rs 1-lakh crore market capitalisation mark. Zomato's stock opened at Rs 116, 52.6 per cent higher on NSE against the issue price of Rs 76