Zomato's Stock Bulls: What's Fueling the Steep Rise | Business News
The online food delivery business Zomato has once more thrilled its investors. The stock of the company had a stunning surge on August 4, the company experienced a remarkable surge in its stock, with shares rising over 14% during morning trading.he rise in revenue happened soon after Zomato on August 3 revealed its first-quarter earnings for FY24.
Zomato stock rise
Several industry professionals have boosted the target price and advised buying the stock. An astounding 58% increase year-to-date has already been shown in the stock's performance in 2023, according to this analysis. The stock has also increased substantially by almost 100% over the last six months.
Zomato's stock price had an impressive rise on Friday, August 4, climbing by more than 10% throughout the trading day to reach a new 52-week high of Rs 98.40. On August 3, the price had previously closed at Rs 86.55. The stock's value has increased by over 58% overall only this year.
