Zomato Shares Up 3% On Blinkit Infusion, Brokerage Optimism

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SUMMARY

Even at 11 AM, the stock remained up by 3.1% against its previous close of INR 222.60. At this price, Zomato’s market capitalisation stood at INR 2,21,572 Cr, with a trading volume of 1.8 Cr shares

Just a day ago, Zomato injected another INR 1,500 Cr into Blinkit, following an infusion of INR 500 Cr last month. Cumulatively, the company has invested INR 4,300 Cr in Blinkit since its acquisition

The stock’s rally also coincided with global brokerage firm Bernstein reiterating its optimism on Zomato, maintaining an ‘outperform’…



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Zomato Shares Up 3% On Blinkit Infusion, Brokerage Optimism


SUMMARY

Even at 11 AM, the stock remained up by 3.1% against its previous close of INR 222.60. At this price, Zomato’s market capitalisation stood at INR 2,21,572 Cr, with a trading volume of 1.8 Cr shares

Just a day ago, Zomato injected another INR 1,500 Cr into Blinkit, following an infusion of INR 500 Cr last month. Cumulatively, the company has invested INR 4,300 Cr in Blinkit since its acquisition

The stock’s rally also coincided with global brokerage firm Bernstein reiterating its optimism on Zomato, maintaining an ‘outperform’…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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