Zomato stock rally may show signs of exhaustion from here on: Analysts

This is because the stock price of Zomato is factoring in all the positives, including earnings growth

India's first-ever listed new-age company, Zomato, has seen a meteoric rise in its stock price in calendar year 2023 (CY23), rising 70.75 per cent during this period as compared to 9.5 per cent rise in the S&P BSE Sensex.

From being the second worst hit new-age stock in CY22, crashing 57 per cent on the National Stock Exchange (NSE), the stock hit the Rs 100-mark for the first time since January 2022 in late August.

The stellar run in the stock – only after PB Fintech and One97 Communications-owned Paytm, analysts say, may be coming to an end, at least