On September 18, Zomato's stock soared to a 52-week high at Rs 105 on the NSE, marking a significant achievement. However, it closed at Rs 102.05, down 0.87 percent from its previous close
Investor confidence in Zomato is on the rise, thanks to the company's impressive performance. Zomato has demonstrated visible growth in revenue and margin expansion, earning praise from investors.
During Zomato's US roadshow, CFO Akshant Goyal received accolades from investors for delivering on promises made a year ago. What was once met with skepticism has now turned into trust and optimism.
Zomato's CFO envisions significant growth, with food delivery expected to grow at a rate of 20-25 percent and the new quick commerce business at an impressive 60 percent CAGR. The potential for growth is vast, considering that restaurants currently contribute only 10 percent to India's food consumption.
Zomato and Swiggy are not just food delivery platforms; they are enablers of growth for local restaurants. By sharing valuable local insights with restaurants, they enhance cuisine diversity and stimulate local demand, further fueling their own growth.
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