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Zomato stock zooms 18% intraday on improved disclosures, gains 14% at close

7-8 large brokerages have come out with recommendations of overweight to buy since the firm announced its results on Monday after market hours

Zomato, food delivery
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The company said it launched in over 300 new cities in Q4FY22. It is now present in over 1,000 towns and cities across India.

BS Reporter Mumbai
Food aggregator platform Zomato’s stock touched an intra-day high of Rs 67.60 per share, up 18.6 per cent from the previous close of Rs 57. The stock closed at Rs 64.95 per share, gaining almost 14 per cent over the previous close. The reason for the jump in share prices was due to improved disclosure, say experts.

Seven to eight large brokerages have come out with recommendations of overweight to buy since the company announced its results on Monday after market hours.

“The management proactively improved disclosures and addressed key issues. Focus is growth along with loss reduction, a tough

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First Published: May 24 2022 | 7:50 PM IST

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