On Monday, September 23, 2024, the Zomato share price showed remarkable and much-needed growth amid the mixed investor sentiments and dynamics of the market. The trend of Zomato stock’s trading graph remained green throughout the day until it closed at Rs 296.90. However, the stock’s previous close was Rs 290.70, showing an approximate surge in the price of Zomato Ltd of Rs 6.20 or the stock rise by 2.13 percent. This gain in the price of Zomato shares reflected the current interest among traders and investors. Amid the growing share prices of Zomato Ltd., the market investors, enthusiasts, and traders have set their keen eyes on this stock. Catering to their queries, we have provided an overview of Zomato Share’s performance over the past year and resistance levels and critical support for current market performance. Stick with this page and go through the article to the end.
Zomato Shares Performance In Recent Months
The story of showing a positive trend in its stock prices has been continuing for the past few months. In comparison to Zomato’s share price last month, this month it has recorded a gain of 6.31 percent. Do you know how much it has gained over the past three months? It is a remarkable story of Zomato Ltd as it increased by an impressive 40.44 percent in the last three months. Impressively, this stock has yielded 178.96 percent in one year. Yes, you read that right, 178.96 percent increase in the share price of Zomato over the past year, showing phenomenal growth and strong confidence in the market.
On September 23, 2024, when the market opened the stock was trading at Rs 292. On this day, the stock reached its highest price of Rs 298 and its lower price was Rs 291. The closed at Rs 296.90, 2.3 percent higher than its previous close. The fluctuation in its share price shows mixed investor sentiments and a broader trend within the market. However, e-commerce stocks are volatile as investor sentiment and external economic factors affect them.
Zomato Share Resistance and Support Levels
It is very important to understand the technical factors such as resistance levels and support levels, for traders before investing in any particular stock as it helps in making crucial decisions at the right time. Therefore, market analysts and experts have suggested Zomato share’s support and resistance levels which will help the traders to understand the buying and selling pressure of this stock.
- Support Levels:
- First Support: ₹292.28
- Second Support: ₹287.57
- Third Support: ₹284.58
- Resistance Levels:
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- First Resistance: ₹299.98
- Second Resistance: ₹302.97
- Third Resistance: ₹307.68
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Traders and investors are also suggested to take a look at the financial metrics before investing their money in any particular stock. As we are here talking about Zomate share prices, let’s take a look at its financial metrics.
- P/E Ratio: 681.6
- P/B Ratio: 11.71
- Annual Revenue Growth: 67%
- Operating Profit Margin: 2%
The P/E ratio of Zomata stock is relatively higher than other e-commerce stocks, indicating the investor expectations for future growth rather than short-term profitability factor.
In recent months, Zomato has shown a strong financial report showing a YoY growth of 47 percent in its B2C business segment with a gross order value of Rs 12,886 crore. This significant growth in its previous quarter, has bolstered the confidence of the investors, leading to the upward trend in its share prices. The market analysts are optimistic about Zomato’s share price as they are expecting its price to touch Rs 330, an increase of 16 percent from its current price. Stay tuned to this website for more details and further updates.
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