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Zomato’s share again fell by more than 11% to Rs 42 today, but Jefferies gave a target of 125% increase, know why

Photo:FILE zomato

Zomato On Tuesday, the stock has fallen more than 11 per cent to Rs 42. This is the lowest level for the Joumet stock. On Monday too, there was a big fall in the stock. Despite this, brokerage house Jeffries has given a target price of Rs 100 for the stock of Zomato. Jefferies has given investment advice in the shares and the target price has been fixed at Rs 100. The brokerage says that the stock has been under pressure since the beginning of this year and has lost nearly 70 per cent. The brokerage house expects the company’s financial position to strengthen in the coming days. Right now the entire sector is facing pressure due to rising interest rates and inflation. Jefferies believes that the share price can go up to Rs 160 in bull case and Rs 40 in bear case.

That’s why there was such a big drop

The lock-in period of one year for the promoters, shareholders, employees and others of the company is over. That’s why there is such a big fall in the stock of the company. The one-year total paid-up capital of the food chain platform is around 78 per cent and market experts were expecting the Zomato shares to see selling pressure this week. The public issue of Zomato was listed on 23 July 2021. The brokerage house says that Zomato will benefit from the acquisition of quick commerce company Blinkit.

stock may break 40 up to Rs.

Speaking on the sell-off in Zomato shares, Anuj Gupta, Vice President – Research, IIFL Securities said, Zomato shares were listed in the Indian markets on 23 July 2021. One year lock-in for Promoters, Employees and Shareholders is over. That’s why the company’s stock has fallen so drastically. Shares of Zomato were listed on BSE and NSE on 23 July 2021 at a strong premium of more than 51 per cent. After the bumper listing, Zomato shares also touched a record high of Rs 169 per share in November 2021. The company’s market capitalization had crossed Rs 1 billion due to the rise in the stock. The company’s stock can reach 40 rupees break.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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