Stock Market News: Zomato Records 52-Week High in Share Price

21 Oct, 2023 Author: Ayushee Joshi

Share Market Today: Food delivery giant Zomato has seen a significant rise in its share price continuously in the 52nd week since January. Zomato’s share price has been rising since January this year. Previously, the share price was less than Rs 50, but it has now exceeded Rs 100 and reached a new 52-week high. Zomato stock on the NSE has a 52-week low price of Rs 44.35. On the NSE, the 52-week high price has changed to Rs 115.10.

FII and DII Contribute to Share Price

The share price was below Rs 50 in the month of February 2023. Since then, the stock has been steadily increasing as a result of the tie-up with IRCTC as well as a considerable rise in FII and DII share investments over the previous quarter. In this time, DII has raised its ownership of Zomato from 9.9 percent to 13 percent. The previous five quarters have seen DII increase its investment in Zomato. In addition, the impact of the pre-order meal delivery partnership with Zomato through IRCTC is also being observed.