Zomato Is Now Valued Higher Than Tata Consumer, Tech Mahindra And 12 Other Nifty 50 Stocks

Zomato‘s share price extended its gaining streak to the fifth consecutive session on Tuesday as the stock surged up around 3% to hit a new 52-week high of ₹167.80. It is now very close to its all-time high of ₹169, which it hit in November 2021.

With this surge, the food delivery giant’s market surge has gone past some of India’s biggest companies. In the past year, the Zomato share price has surged up close to 200%. The company’s fundamentals have also improved over the year. Earlier this month, the company posted its results for the December quarter. It was the company’s best performance to date in terms of profitability.

Zomato’s share price over the past year.

The Deepinder Goyal-led company’s current market cap is around ₹1.4 lakh crore higher than that of Tech Mahindra, Tata Consumer, Hindalco and others.

Nifty 50 CompaniesMarket Cap
Tech Mahindra1.28
HDFC Life1.26
IndusInd Bank1.18
Tata Consumer1.09
Eicher Motors1.06
Dr. Reddy’s1.06
Divi’s Labs0.98
Apollo Hospital0.97
Hero MotoCorp0.91
All figures in ₹ lakh crore.

Price Action: Zomato’s share price was up 1.96% to trade at ₹164.20 shortly after market open on Wednesday.

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