The share price of Zomato has been on a constant rise and today reached 250% up compared to a year ago at Rs. 189 on the intraday level.
Zomato Share price
Factors like good quarterly results in April, an increase in online food demand, and IPL 2024 are the main reasons that the stock is likely to grow further.
Zomato Growth factors
Additionally, Blinkit, which is owned by Zomato has increased its charges by 200% which would result in more revenue for the company.
Blinkit contribution on Zomato
Analysts say that the Zomato share price has a target of Rs. 247 if it breaches resistance at Rs. 204. However, there is also a possibility of a breakout at the Rs. 175 level.
Zomato Share Price Target
It is noted that now the impact of COVID-19 has subsided which has led to more people ordering online food and groceries, which benefits players like Zomato.
Zomato Online delivery demand
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