Zomato share price crash: Why have Zomato shares tanked over 30% from all time highs & what should investors do?

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Times of India 1d ago

Zomato share price crash: Why have Zomato shares tanked over 30% from all time highs & what should investors do? - Times of India

Quick Summary:

Shares of Zomato have plunged over 30% since early December 2024, mainly due to a 57% year-on-year drop in consolidated net profit for the December quarter.

According to Siddhartha Khemka, head of retail research, Motilal Oswal Financial Services, “Zomato has been trying to scale up its quick-commerce business along with its competition by front-loading capex, as all of them have raised capital recently.

Motilal Oswal maintained its 'Buy' rating on Zomato but reduced the price target from Rs 330 to Rs 270, while remaining neutral on Swiggy.