On Friday, Zomato’s stock performed exceptionally well despite a significant drop in the stock market. While the Bombay Stock Exchange (BSE) Sensex and the National Stock Exchange (NSE) Nifty fell sharply, Zomato’s stock rose by over 2%, trading around ₹260.
Market Decline
By 12:45 PM, the Nifty had dropped by 225 points, and the Sensex had fallen by 771 points. Despite this decline, Zomato’s stock increased by more than 2%, trading between ₹254 and ₹262. It is currently above its short-term (5, 10, and 20 days) and long-term (50, 100, and 300 days) simple moving averages (SMA).
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Zomato’s SMAs
Here is a snapshot of Zomato’s SMAs:
- 5-day SMA: ₹248.04
- 10-day SMA: ₹253.61
- 20-day SMA: ₹257.65
- 50-day SMA: ₹233.77
- 100-day SMA: ₹191.31
- 300-day SMA: ₹182.87
FII Holdings and Stock Performance
Zomato’s Return on Equity (ROE) stands at 1.76%, and its Price-to-Earnings (P/E) ratio is 375.80. The stock is expected to reach ₹274.56. Promoter holdings in Zomato are at 0%, mutual fund holdings at 12.52%, and Foreign Institutional Investors (FII) hold 54.11%.
Performance of Competitors
On the same day, Zomato’s competitors showed mixed results. While Wipro and Firstsource Solutions saw their stock prices fall, Info Edge India and Eclerx Services showed gains. Zomato’s CEO is Deepinder Goyal.
