The World Opinion

Tag: Zomato shares

  • Antfin Singapore Holding Sells 2.1 Per Cent Stake In Zomato For Rs 4,771 crore | Economy News

    New Delhi: Antfin Singapore Holding on Tuesday divested a little over 2 per cent stake in online food delivery firm Zomato for Rs 4,771 crore through open market transactions.

    Antfin Singapore Holding Pte is an arm of Ant Financial Group, while the latter is a part of Chinese e-commerce giant Alibaba. According to the bulk deal data available on the BSE, Antfin Singapore Holding sold 18,54,40,550 shares in two tranches, amounting to a 2.1 per cent stake in Gurugram-based Zomato.

    The shares were disposed of in the price range of Rs 257.17-257.46 apiece, taking the transaction value to Rs 4,771.66 crore. After the share sale, Antfin Singapore Holding’s stake has been reduced to 2.14 per cent from 4.24 per cent. Details of buyers of Zomato’s shares could not be ascertained.

    Shares of Zomato rose 0.27 per cent to close at Rs 263 apiece on the BSE. In March this year, Antfin Singapore Holding pared a 2 per cent stake in Zomato for Rs 2,827 crore.

    Earlier this month, food delivery aggregator Zomato reported a multifold jump in consolidated net profit to Rs 253 crore for the April-June quarter of 2024-25 compared to Rs 2 crore in the year-ago period.

    The company’s revenue from operations jumped more than 74 per cent to Rs 4,206 crore in the first quarter of this fiscal from Rs 2,416 crore in the April-June period of last year.

    Its total expenses also rose to Rs 4,203 crore during the quarter under review, from Rs 2,612 crore a year ago. The reporting segments for the group include the food ordering and delivery business, Hyperpure Supplies (B2B), its quick commerce offering Blinkit, the going out segment and all other residual segments.

  • Shares Of Zomato Hit An All-time High; Here’s Why | Economy News

    New Delhi: Shares of online food delivery app Zomato hit an all-time high on Monday after foreign brokerage UBS remained positive about the company and raised its target price for the stock by Rs 60 to Rs 320. At 1.39 pm zomato shares were trading at Rs 267 apiece, up Rs 2.50 or 0.95 percent.

    Zomato’s stock rose by Rs 15.5, or 5.9 percent, reaching a new record of Rs 280 on the BSE. It later settled at Rs 267 apiece. Zomato’s new peak surpasses the previous record of Rs 278.5 set on August 2. The brokerage’s target suggests the stock could rise by Rs 40, or 14.3%, from its current level, said Zeebiz website.

    According to Zee Business research, Zomato subsidiary Blinkit has reached several milestones ahead of the Rakhi festival, reaching sales of 693 Rakhis a minute.

    According to UBS, Zomato’s gross merchandise value (GMV) exceeded analysts’ expectations in the food delivery and Blinkit businesses in the June quarter. GMV is a key metric that determines the total value of sales of goods and services on a platform over a given period of time. It is a common metric used to gauge the performance of e-commerce businesses.

    Zomato Q1 FY25

    The online food aggregator recently reported a 74 per cent growth (year-on-year) in revenue to Rs. 4,206 crore in Q1 FY25.

    It posted over 126 per cent growth in net profit to reach Rs. 253 crore in the April-June quarter (Q1 FY25), from Rs. 2 crore in net profit in the same quarter last year.

  • Zomato Stock Slumps After ESOP Announcement | Markets News

    Mumbai: Online food delivery company Zomato’s shares extended its morning session loss on Tuesday up to 5-6 percent, as the company is expecting an increase in cost due to the employee stock ownership plan (ESOP).

    Zomato announced results of the fourth quarter of the financial year 2024 on Monday.

    In the post-result commentary, the management said that in the current financial year (FY25), the costs may increase due to the grant of ESOPs to senior employees and the leadership team of Blinkit.

    The food delivery giant said they had sought permission from the shareholders to issue 18.2 crore shares to the employees as ESOP.

    According to the current market value, ESOPs’ value is around Rs 3,500 crore.

    Zomato registered a profit of Rs 175 crore in Q4 of FY24. The company reported a loss of Rs 188 crore in the same period last year.

    After the result, brokerage firm Emkay Global maintained a buy rating on Zomato with a target price of Rs 230 per share.

    “Zomato posted steady operational results, with revenue ahead of our estimates whereas the margin miss was on account of higher than expected ESOP costs (for the Blinkit leadership team),” said the brokerage firm.

    “Food delivery gross order value (GOV) grew 28.5 per cent YoY to Rs 84.4 billion (-0.6 per cent QoQ), with Blinkit GOV up 13.7 per cent QoQ/96.8 per cent YoY to Rs 40.3 billion. Blinkit achieved operational EBITDA break-even in March 2024,” it added.