Zomato's Deepinder Goyal wants to focus on building Super Brands, not Super Apps.
New Features
Zomato introduced Daily Payouts for select restaurants and an all-electric large order fleet. Zomato also piloted last-mile deliveries for office goers.
International Subsidies
In January, Zomato liquidated its Vietnamese, Czech and Polish subsidies.
Positive Financials
Zomato reported a consolidated PAT of INR 138 Cr in Q3 of FY24, helped by a sharp growth in its quick commerce business.
Thumbs Up From Brokerages
Brokerage firms, including Jefferies, Nuvama, and Kotak, have raised the price target (PT) for Zomato. Zomato was in the top picks for Jefferies as well.
Pure Veg Fleet
Deepinder Goyal announced a pure veg fleet for Zomato's vegetarian users. Later it was retracted due to backlash.
Block Deals
Motilal Oswal mutual funds offloaded 4.5 Cr shares of Zomato in January 2024. Later Antfin offloaded 2% stake in Zomato.
Soaring Share Price
Zomato inched further closer to the INR 200 mark. Zomato's stock soared to an all-time high of INR 191.9 during the intraday trading on the BSE on Friday