Zomato shares rise by 5%: On Monday, Zomato’s shares experienced a significant upswing, jumping by roughly 5.6% to reach Rs 96.10.
By 10:36 am, more than 8.5 million shares had been exchanged in eight different block deals at prices ranging from Rs 92 to Rs 96 per.
Morgan Stanley, a leading brokerage firm, maintained a “overweight” recommendation on the company despite the increasing trading activity in Zomato equities.
This approach is favourable since Zomato may increase profitability by collecting a platform fee of between two and three rupees each order.
The stock’s trading volume was robust, with over 78.3 million shares exchanged by 12:44 pm.
This figure accounts for 0.9 times the 30-day moving average, underscoring the heightened investor interest in Zomato’s ongoing market performance.
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