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Zomato Share Price: While online food delivery and quiz commerce companies are in the news these days, Zomato’s stock has emerged as the first choice of institutional investors. Mutual funds have purchased maximum shares of Zomato in the third quarter of the financial year 2024-25. Now three big brokerage houses have advised investors to invest in Zomato shares to get big returns. Foreign brokerage house CLSA has given a target of Rs 400 and believes that the stock can give returns of up to 62 percent from the current level.
After the coverage report of brokerage houses came out, a strong rise was seen in the stock of Zomato on Thursday, January 16, 2025. In today’s session, it reached Rs 262 with a jump of 7.42 percent, which had closed at Rs 243.90 in the previous session. CLSA has released its coverage report on Zomato in which it has been said that the stock may outperform. According to CLSA, Zomato shares can go up to Rs 400, which is 62 percent above the current level.
Apart from CLSA, Morgan Stanley is also bullish on Zomato stock. Morgan Stanley has advised to buy the stock for a target price of Rs 340. Another brokerage house Bernstein is also positive on the stock and has advised to buy Zomato shares for a target price of Rs 315. During the recent fall in the stock market, the stock fell from an all-time high of Rs 304.70 to Rs 227. That means the stock has fallen by more than 25 percent from the all-time high.
Mutual funds are continuously buying shares of Zomato. In the October-December quarter, asset management companies have bought shares worth Rs 10,200 crore. Last month, mutual funds bought about 145 crore shares in Zomato for Rs 24,000 crore, after which the mutual fund’s holding in the company increased by 2.85 per cent from 13.57 per cent to 16.42 per cent. The number of mutual fund schemes investing in Zomato shares has also increased from 36 to 38. However, the stake of foreign investors in the company has decreased from 52.53 percent to 47.31 percent quarter-on-quarter.
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