Zomato share price: The stock dived 5.13 per cent to hit a day low price of Rs 126.70. At this price, the scrip has fallen 10.49 per cent from its one-year high of Rs 141.55, a level seen during last Friday's trading session.
Zomato share price: The stock today plunged 5 per cent to hit a day low price of Rs 120.70. At this price, the scrip has slipped 8.39 per cent from its one-year high of Rs 131.75, a level seen this month on December 19. Despite the mentioned fall, the multibagger counter has gained 172.15 per cent from its 52-week low of Rs 44.35, hit on January 25 earlier this year.
Zomato posted a Rs 36-crore profit after tax (PAT) against the estimates of Rs 5-crore loss by ETNow poll. The company had posted a surprise profit of Rs 2 crore in the preceding June quarter and a loss of Rs 251 crore in the year-ago period.
Zomato stock which closed nearly 10% higher at Rs 117.90, also crossed a market cap of Rs 1 lakh crore. At the close, its overall market cap stood at Rs 1.01 lakh crore. The results infused a strong buying interest in the counter as 17.36 shares traded on the NSE minutes before the market closing time.
The stock s value has surged in the last eight months. Mutual funds have increased their investments in Zomato, making it one of the top buys of domestic fund houses in August, with purchases exceeding 80 million shares.