Zomato shares on a losing streak this year; buy, sell or hold price targets
Shares of Zomato Ltd fell for the seventh straight session, inching closer to the key Rs 225 mark on BSE on Tuesday. The stock is down 20.25% in seven days, beginning 2025 on a negative note. The stock of the online food delivery firm has fallen from Rs 284.85 on January 2, 2025 to Rs 227.15 in the current session. The stock ended 6.52% lower against the previous close of Rs 243 on January 13.
The stock has fallen 25.45% from record high of Rs 304.50 reached on December 5, 2024.
Foreign brokerage Jefferies has downgraded Zomato Ltd to ‘Hold’ from “Buy’ rating. It has also pared its target price to Rs 275 compared with Rs 335 earlier, citing a rise in competition in the quick commerce space. The brokerage expects the stock to…
