{"id":59313,"date":"2022-08-18T13:35:00","date_gmt":"2022-08-18T08:05:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=59313"},"modified":"2022-08-18T13:32:58","modified_gmt":"2022-08-18T08:02:58","slug":"zomato-shares-surge-70-57-should-you-buy-sell-or-hold","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/zomato-shares-surge-70-57-should-you-buy-sell-or-hold\/","title":{"rendered":"Zomato shares surge 70.57%; Should you Buy, Sell or Hold?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-577351913\"><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 shares of food aggregator Zomato Limited have been on an uptrend after hitting their 52- week low of \u20b9 40.60 in July this year. Its share price plummeted as market participants expected a huge sell-off after the expiry of the one-year lock-in period for its promoters and early investors.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1912981641\"><!-- 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>Zomato\u2019s shares have risen from \u20b9 40.60 to \u20b9 69.25, up 70.57% in the past 15 trading sessions. However, it is still below its issue price of \u20b9 73 per equity share.<\/p><p>Stock market experts say that Zomato reported better than estimated Q1FY23 numbers. The company\u2019s management has promised to break even in the next four quarters.&nbsp; Its consolidated loss narrowed to \u20b9185.7 crores in the June quarter, as against a loss of \u20b9 359.7 crores in the previous quarter. Further, it has halted Zomato Wings which was incepted in November 2021 to facilitate equity funding for restaurants and cloud kitchens.<\/p><p>When Zomato\u2019s shares took a beating in July, it emerged as the most bought stock in July by asset management companies (AMCs). HDFC AMC, UTI AMC, and Nippon AMC were a few mutual fund houses that invested heavily in the stock.<\/p><div class=\"trade-content_5\" id=\"trade-2579096202\"><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>HDFC AMC\u2019s holding increased from 14 lakh shares in June to 1.13 crores shares in July. Similarly, Nippon AMC increased its holdings from 2.49 crore shares to 9.51 crore shares and UTI AMC from 3.11 crore shares to 3.49 crore shares<\/p><p>&#8220;Zomato shares are currently trading in the range of \u20b948 to \u20b970. So, those who have this stock in their portfolio are advised to hold the stock and exit around \u20b970 levels. The stock is currently range bound and bullish or bearish trend in the scrip can be decided only on the breakage of either side of the current range,&#8221; Anuj Gupta, Vice President \u2014 Research at IIFL Securities.<\/p><p><strong>Jefferies had given a buy call on the shares of the company with a target price of \u20b9 100 apiece. Further, Credit Suisse had an outperform rating with a target price of \u20b9 90 and Kotak Institutional Securities believed that the worst is over for the stock and had suggested a buy with a target price of \u20b9 79, in July this year.<\/strong><\/p><p><strong>Valuation guru Ashwath Damodaran pegged Zomato at \u20b935.32. A year ago, he had pegged its value at \u20b9 41.<\/strong><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><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-209030373\"><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 shares of food aggregator Zomato Limited have been on an uptrend after hitting their 52- week low of \u20b9 40.60 in July this year. Its share price plummeted as market participants expected a huge sell-off after the expiry of the one-year lock-in period for its promoters and early investors.&nbsp; Zomato\u2019s shares have risen from [&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":[965,3153,4178,4183,3157,3158,966,935,462,963,4443,2493,463,962],"class_list":["post-59313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-news","tag-is-it-good-to-buy-zomato-shares","tag-stock-to-buy","tag-stock-to-buy-in-2022","tag-stock-to-trade","tag-stock-to-watch","tag-stock-to-watch-in-2022","tag-what-is-the-target-of-zomato-share-price","tag-zomato-news","tag-zomato-share-price","tag-zomato-share-price-in-future","tag-zomato-share-price-target","tag-zomato-shares","tag-zomato-stock","tag-zomato-stock-price"],"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 shares surge 70.57%; Should you Buy, Sell or Hold? - 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-shares-surge-70-57-should-you-buy-sell-or-hold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zomato shares surge 70.57%; Should you Buy, Sell or Hold?\" \/>\n<meta property=\"og:description\" content=\"The shares of food aggregator Zomato Limited have been on an uptrend after hitting their 52- week low of \u20b9 40.60 in July this year. 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