Despite the likelihood of an aggressive rate hike by the US Federal Reserve (US Fed), a correction in equity markets, analysts expect the primary market action to stay on track, albeit a minor hiccup
In the past three trading days, the stock of the food delivery company has declined 20 per cent after it reported disappointing set of numbers for December quarter
Paytm has dropped 40 per cent on a YTD basis, and Zomato seems to be revisiting its IPO issue price amid market sell-off
The S&P BSE IPO index slipped 3.4% in intra-day trade, and has corrected 23% from its record high level
Zomato's long-term growth story remains intact as it is a play on the growing food services industry in India as well as increasing adoption of digital commerce
In Q3FY22, the company's revenue from operations grew by around 9 per cent QoQ, while the customer delivery charges de-grew by 22 per cent.
Apollo Hospitals, Ashok Leyland, Bajaj Hindusthan, Divis Labs, Fortis Healthcare, Glenmark, Godrej Industries, IDFC, India Cements, Jet Airways, PFC, Shree Renuka Sugars, Star Health and Voltas to ann
The firm will invest $400 mn in quick commerce over next two years
Foodtech firm will also set up NBFC to disburse credit to customers, restaurants and food delivery workers
The company reported exceptional gain of Rs 316 crore during the quarter
With Zomato planning to expand its business, its outlook appears to be constructive, say analysts
Latent View Analytics, Go Fashion, Chemplast Sanmar, Macrotech Developers (Lodha), CMS Info Systems, Sona BLW Precision Forgings and Devyani International slipped between 8% and 10%.
The stock has declined 11% in the last four trading sessions, and now trades closer to its record registered on its debut day, July 23, 2021.
Auto stocks are likely to be in focus as the stocks could react to the monthly sales numbers.
Zomato logs 6,000 orders per minute at around 7pm; Swiggy says it hit 6,600 orders per minute.
A customer in Ahmedabad placed this year's biggest order, worth Rs 33,000.
A little over 110 firms ranging from online grocers to food delivery and beauty startups listed their shares in Mumbai this year, raising almost $18 billion, according to data compiled by Bloomberg
The plea by Indian Federation of App-Based Transport Workers has sought formulation of welfare schemes like health insurance, maternity benefits, pension, old age assistance, disability allowance
The Zomato CEO also talked about an e-mail from Info Edge founder Sanjeev Bikhchandani on how the company should price its IPO
Go Fashion India will make its debut on the brouses today, while Star Health IPO opens for subscription in the primary segment