Why Zomato Shares Fall: Shares of online food delivery and grocery platform Zomato showed strong selling pressure even today. Even a trading day earlier, after the results, it had fallen by more than 8 per cent and today also its fall continued and with the opening of trading it fell by more than 9 per cent. It got support from buying shares below Rs 200 but it is still quite low. Currently, it is priced at Rs 224.50 on BSE with a decline of 6.83 percent. In intra-day it fell by 9.61 percent to Rs 217.80. A trading day earlier, it had closed at Rs 240.95 with a decline of 3.14 per cent.
How is your health on the chart now after the decline?
After falling more than 28 percent from the record high, now if we talk about the technical chart, its shares have broken the first support which was at 227.2. According to the details available on ICICI Direct, after this there is support level at 214.7 and 201.1. On the upside, it may have to face resistance at 253.3, then 266.9 and then 279.4. Apart from this, negative signals are also that the stock fell below the 20-day (225.6), 50-day (264.8), 100-day (260.2) and 200-day (236.3) EMA (Exponential Moving Average). Is.
Highlights of Zomato Q3 Result
Zomato’s consolidated net profit fell sharply by 57 per cent to Rs 59 crore on an annual basis in the December quarter. However, consolidated operational revenue increased by 64 percent to ₹5405 crore. The company says Blinkit-related losses increased by ₹95 crore in the December quarter. At the same time, its total adjusted EBITDA decreased by 14 percent i.e. Rs 45 crore.
Blinkit’s losses have increased because the company is expanding it rapidly and the company’s CEO-founder Deepinder Goyal says that earlier the target was to open 2 thousand stores of Blinkit by December 2026 but now this target is to be achieved by December 2025. hopefully. Zomato also suffered a setback in the December quarter due to slow growth of the food delivery business. Zomato’s gross order value (GOV) grew by only 2 percent quarter-on-quarter in the December quarter. However, the company is confident that 20 percent annual growth can be achieved. Zomato’s health also took a hit with the launch of the Districts app as it incurred expenses on its team, marketing and technology.
How were the shares in one year?
Zomato shares have made huge profits for investors. Last year on November 23, 2024, it was at Rs 128.10, which is a one-year low for its shares. From this low level, it jumped by about 138 percent in 11 months and reached a price of Rs 304.50 last month on December 5, 2024, which is a record high for its shares. However, the rise of shares stopped here and at present it is more than 28 percent downside from this high.
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