Zomato share cost jumped almost 5 per cent today, increasing to a fresh record higher of Rs 147.80 apiece intraday on NSE. The on the internet meals delivery platform stock cost is now 95 per cent up from its IPO cost of Rs 76 per share. From the present levels, Zomato share cost is most likely to rally 12 per cent more, Swiss brokerage UBS Securities stated in a report. UBS Securities has initiated a ‘buy’ rating to the stock with a 12-month target cost of Rs 165 per share. “As one of the two leading players in the rapidly growing food delivery market in India, we expect Zomato to deliver over 40 per cent revenue CAGR making it one of the fastest-growing internet companies in the region,” UBS Securities stated.
Check live costs: Zomato
Zomato stock was listed at Rs 115 apiece, last week considering that then it has surged 28.52 per cent. In traded volume terms, 56.90 lakh shares have exchanged hands on BSE, although a total of 8.14 crore units have traded on NSE so far.