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Zomato (NS:ZOMT) continued its upward trajectory on Tuesday, marking the fifth consecutive session of gains as the stock soared approximately 3% to reach a new 52-week peak of ₹167.80. It now stands tantalizingly close to its all-time pinnacle of ₹169, achieved back in November 2021.
The food delivery behemoth has now eclipsed the market capitalization of several of India’s major corporations. Over the past year, Zomato’s share price has surged nearly 200%, reflecting substantial investor confidence. Moreover, the company’s financial fundamentals have strengthened notably. In its latest quarterly report released earlier this month, Zomato posted its most impressive profitability figures to date.
Under the leadership of Deepinder Goyal, Zomato’s current market cap now exceeds that of Tech Mahindra (NS:TEML), Tata Consumer, Hindalco (NS:HALC), and other prominent firms by approximately ₹1.4 lakh crore.
The share price movement of Zomato over the past year underscores its remarkable ascent in the market.
As of Wednesday’s market opening, Zomato’s shares were up 1.96%, trading at ₹164.20.
