{"id":44588,"date":"2022-05-24T13:30:00","date_gmt":"2022-05-24T08:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=44588"},"modified":"2022-05-24T13:23:31","modified_gmt":"2022-05-24T07:53:31","slug":"zomato-witnesses-the-biggest-intraday-rise-since-listing-check-analyst-targets","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/zomato-witnesses-the-biggest-intraday-rise-since-listing-check-analyst-targets\/","title":{"rendered":"Zomato witnesses the biggest intraday rise since listing; Check Analyst targets"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2260713969\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Indian markets started in the green on Tuesday. The BSE Sensex as well as the NSE Nifty 50 started marginally higher than the previous close, tracking mixed global cues.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3391354313\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Notably, the shares of food delivery platform Zomato Limited surged 18.49% to reach an intraday high of \u20b9 67.60. The shares saw their biggest intraday rise since their listing and hit a market cap of \u20b9 50,000 crores after a long time. This happened after the company announced its earnings for the March quarter.<\/p><p>The food aggregator\u2019s revenue from operations almost doubled to \u20b9 1,212 crores in Q4FY22, as compared to \u20b9 692 crores in Q4FY21. This implies a year-on-year growth of 75%. On a yearly basis, its revenues increased from \u20b9 1993.8 crores to \u20b9 4192.4 crores, up 110.27%. Further, it said that it launched its services in more than 300 new cities, taking its presence to over one thousand towns and cities across India.<\/p><p>Its net loss widened to \u20b9 359 crores for the quarter ended March 2022, impacted by higher expenses. Its loss has nearly tripled as compared to a loss of \u20b9 134 crores recorded in the corresponding quarter of the previous year.<\/p><div class=\"trade-content_5\" id=\"trade-1168408282\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>\u201cReduction in losses will be driven by improvement in a contribution margin of the food delivery business and also operating leverage playing out as our revenue is growing faster than our fixed costs,\u201d the company said.&nbsp;<\/p><p>It added that it is experiencing a shortage in the availability of delivery partners in the current quarter in a few large cities since the last week of April. This might be short-term in nature since the post covid economic recovery has brought back jobs in cities, and they lost some delivery partners to such jobs.<\/p><p>Global brokerages are positive on the counter. They believe that the downside risk for investors is limited and that the worst is over for the company. Here are a few targets given by them:<\/p><h4 class=\"wp-block-heading\" id=\"h-jp-morgan\"><strong>JP Morgan<\/strong><\/h4><p>The brokerage has suggested a price target of \u20b9130 on the shares. The shares are currently trading at \u20b9 64.00 apiece. Hence this translates to an upside of 103.13% and implies that Zomato could potentially give multibagger returns.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Citi<\/strong><\/h4><p>It has a target of \u20b9 80 on the stock. This suggests an upside of 25% as compared to the current market price.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Morgan Stanley<\/strong><\/h4><p>The brokerage said that the company is moving in the right direction, but needs consistent execution to meet the high expectations. It has maintained an \u2018overweight\u2019 rating on the shares with a target of \u20b9135 apiece.\u00a0<\/p><div class=\"trade-content-10\" id=\"trade-3158376282\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-4050967399\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Indian markets started in the green on Tuesday. The BSE Sensex as well as the NSE Nifty 50 started marginally higher than the previous close, tracking mixed global cues.&nbsp; Notably, the shares of food delivery platform Zomato Limited surged 18.49% to reach an intraday high of \u20b9 67.60. The shares saw their biggest intraday [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1513,31],"tags":[],"class_list":["post-44588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zomato witnesses the biggest intraday rise since listing; Check Analyst targets - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/zomato-witnesses-the-biggest-intraday-rise-since-listing-check-analyst-targets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zomato witnesses the biggest intraday rise since listing; Check Analyst targets\" \/>\n<meta property=\"og:description\" content=\"The Indian markets started in the green on Tuesday. The BSE Sensex as well as the NSE Nifty 50 started marginally higher than the previous close, tracking mixed global cues.&nbsp; Notably, the shares of food delivery platform Zomato Limited surged 18.49% to reach an intraday high of \u20b9 67.60. 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