Zomato’s share price has fallen by 1.38% on November 29, 2024, as the stock closed at ₹282.15 ($3.34), down from the previous day’s closing, mint reports.
The stock opened at ₹286.95 and reached a high of ₹287.5 and a low of ₹281.35 during the day, indicating a range of price movement.
As of 11:04 AM IST on November 29, Zomato’s stock was trading at ₹282.15. In contrast, the broader market indices, Nifty and Sensex, saw positive performance with Nifty up by 0.87% and Sensex gaining 0.97%.
On the technical front, Zomato’s stock is currently trading above its short-term moving averages, including the 5-day, 10-day, and 20-day averages, as well as longer-term moving averages such as the 50-day, 100-day, and 300-day averages. The Simple Moving Average (SMA) values for Zomato’s stock are as follows:
- 5-day SMA: ₹271.20
- 10-day SMA: ₹267.44
- 20-day SMA: ₹258.23
- 50-day SMA: ₹267.94
- 100-day SMA: ₹254.04
- 300-day SMA: ₹241.43
According to the classic pivot level analysis, the stock has key resistance levels at ₹289.37, ₹292.22, and ₹296.19, while the support levels are at ₹282.55, ₹278.58, and ₹275.73.
From a fundamental perspective, Zomato has a Return on Equity (ROE) of 1.76% and a Return on Assets (ROA) of 1.56%. The stock’s current Price-to-Earnings (P/E) ratio stands at 341.38, and its Price-to-Book (P/B) ratio is 11.69. Zomato’s one-year forecasted upside is 8.10%, with a target price of ₹305.00 ($3.61).
In terms of ownership, Zomato has a 0.00% promoter holding, while mutual funds hold 13.57% (up from 12.52% in June). Foreign institutional investors (FIIs) hold 47.28% of the company’s shares, an increase from 46.13% in June.
While Zomato’s stock was down by 1.38% on the day, the performance of its peers was mixed. Some companies, such as Wipro, Info Edge India, Firstsource Solutions, and Eclerx Services, saw gains, while others faced declines. Overall, the benchmark indices, Nifty and Sensex, posted increases of 0.87% and 0.97%, respectively.
