New Delhi : A big news is coming out regarding online food delivery company Zomato. It is being told that the stocks of this company have been included in BSE Sensex. Zomato is going to replace JSW Steel among 30 Sensex stocks. Zomato can also trade in Sensex on 23 December 2024. BSE's subsidiary Asia Index Private Limited has also announced the restructuring of BSE Index. After this announcement, it has been decided to include Zomato in BSE Sensex 30 and BSE Sensex 50.
Let us tell you that in July 2021, food delivery company Zomato launched its IPO. Also, since the listing of this company on the stock exchange, the stock has given multibagger returns to its shareholders. At the time when Zomato's IPO came, the issue price of one share was around Rs 76. Zomato's stock closed at Rs 264.20 on November 22, 2024 and during this period the stock has given returns of about 250 percent to the shareholders. Not only this, this stock has given returns of 114 percent in the year 2024 and more than 300 percent in the last 3 years.
Can trade on 23rd December
Stock market trading was closed on Friday. Despite this, Asia Index Private Limited has reorganized the BSE indices, in which it was announced to include Zomato in 30 Sensex stocks. It is being told that on December 23, Zomato can trade at Sensex 30.
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Zomato's stock will double
Morgan Stanley has said in a recently released report that Zomato's stock can double in the coming 3 years. If brokerage houses are to be believed, Zomato's stock may even cross Rs 500. Giving overweight rating on Zomato in its coverage report, a target of Rs 355 has been set. According to this report, due to the increasing share of Quick Commerce in the retail market in India, strong balance sheet, expansion of food delivery business, the company can achieve huge profits by the year 2030.
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