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Zomato's Shares Price Reaches A 52-week High

Several brokerages were positive on Zomato following the March-quarter results last month. On the BSE in July, the company's share price hit a 52-week low of Rs 40.55

The share price of food and grocery delivery platform Zomato closed at Rs 77.57 on the BSE Sensex on Friday, after reaching a 52-week high of Rs 77.95 throughout the day. As a result, Zomato's share price has closed above its initial public offering (IPO) price of Rs 76.

During its initial public offering (IPO) in 2021, the Gurugram-based company's shares were priced at around Rs 72-76. It thereafter went public at a hefty premium of Rs 125 per share. The benchmark 30-stock index is also close to its all-time high of 63,583.07. The Sensex closed at 62,625.63 on Friday.

Last quarter, the company lowered its losses to Rs 188 crore, down from Rs 360 crore a year earlier and Rs 345 crore the previous quarter. The combined income increased by 70 per cent year on year (y-o-y) to Rs 2,056 crore. 

Several brokerages were positive on Zomato following the March-quarter results last month. On the BSE in July, the company's share price hit a 52-week low of Rs 40.55.

The company's food delivery segment made Rs 1,530 crore in the March quarter, up from Rs 1,284 crore the previous year, and Rs 1,565 crore in the December 2022 quarter. The GOV of the food delivery industry was Rs 6,569 crore in the March quarter, down from Rs 6,680 crore in the previous quarter but up from Rs 5,853 crore in the previous year.


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