Zomato share price

Zomato Share Price Rollercoaster: What's Behind the Plunge and Rise?

Zomato's share price seesaws after Q4 results - dive into the rollercoaster ride of Blinkit and profit announcements! 🎢

Zomato, the food delivery giant, experienced a tumultuous time in the stock market recently. Following their Q4 results, Zomato's share price took a hit, falling by 6% despite reporting a net profit of ₹175 crore, a significant turnaround from the previous year's loss of ₹188 crore. The company's quick commerce business, Blinkit, also made headlines by achieving operational EBITDA break-even in March 2024 and setting ambitious plans to expand its dark store count.

Despite the positive financial results, Zomato shares corrected by 10% in two sessions, causing a stir among investors. Emkay Global maintained a 'Buy' rating for Zomato, setting a price target of ₹230 per share, indicating confidence in the company's potential. However, the stock price still fell by 7% post Q4 announcement, showcasing the volatility in the market surrounding Zomato's performance.

The market reception to Zomato's Q4 results was mixed, with shares falling by 6% despite the firm's profit of ₹175 crore and improved financials. Analysts speculated on the reasons behind the plunge, while brokerages like UBS maintained a positive outlook with a 'Buy' rating and a price target of Rs 250 for Zomato. The stock's journey post-Q4 remained uncertain as investors navigated the dynamic landscape of the food delivery industry.

In conclusion, Zomato's stock performance reflects the unpredictable nature of the market, with highs and lows influenced by financial reports and industry news. Despite challenges, Zomato continues to be a key player in the online food delivery sector, captivating investors with its growth potential and strategic moves in the market.