The stock hit a record high of Rs 304.50 today, buoyed by investor optimism in both the food delivery and quick commerce businesses. With this surge, Zomato is on the brink of crossing the Rs 3 lakh crore market capitalization mark. Positive financial results from rival Swiggy have strengthened investor optimism in the entire food delivery sector, benefiting Zomato as well. The stock is set to be included in the BSE Sensex from the end of December. Meanwhile, a leading global brokerage firm reaffirmed its 'outperform' rating on Zomato, with a target price of Rs 370. The firm cited the company's strong position in the quick commerce segment and its dominant market share as key drivers. Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners. Zomato's consolidated net profit surged 388.89% to Rs 176 crore on 68.5% jump in revenue from operations to Rs 4,799 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

Zomato has allotted 47,75,34,845 equity shares under ESOP on 02 December 2024. With this allotment, the paid up equity share capital has increased to Rs 9,65,03,50,647 consisting of 9,65,03,50,647 equity shares of Re 1 each).Powered by Capital Market - Live

Zomato announced that its shareholding in Byondnxt Smart Home (Byondnxt) stands reduces from 8% to 6% on a fully diluted basis, following a fund raise by Byondnxt that completed on 30 November 2024. Zomato did not participate in this fund raise. Powered by Capital Market - Live

The qualified institutional placement (QIP), which commenced on 25 November 2024, concluded on 28 November 2024, with a total of 33,64,73,755 equity shares being allotted. The shares were priced at Rs 252.62 per share, resulting in an issue size of approximately Rs 8,500 crore. The issue price of Rs 252.62 is at a discount of 5%, to the floor price of Rs 265.91 per equity share set for the QIP issue. Pursuant to the allotment of equity shares under the QIP, the paid-up equity share capital of the company increased to Rs 917.28 crore comprising 9,17,28,15,802 equity shares. Motilal Oswal Mutual Fund emerged as the largest allottee, securing a substantial 20.81% allocation. Following, ICICI Prudential Mutual Fund and HDFC Mutual Fund received allocations of 12.78% and 8.68%, respectively. Lastly, Kotak Mutual Fund secured 5.95% allocation. Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners. Zomato's consolidated net profit surged 388.89% to Rs 176 crore on 68.5% jump in revenue from operations to Rs 4,799 crore in Q2 FY25 over Q2 FY24. The scrip slipped 3.23% to Rs 276.85 on the BSE.Powered by Capital Market - Live

Zomato has approved the allotment of 33,64,73,755 equity shares at an issue price of Rs 252.62 per equity share (including a premium of Rs 251.62 per equity share), which is at a discount of 5% to the floor price of Rs 265.91 per equity share, to the eligible qualified institutional buyers. Powered by Capital Market - Live

The BSE has announced its latest reconstitution of major indices, which will take effect on 23 December 2024. The rebalancing is designed to reflect changes in market capitalization and liquidity, ensuring that the indices remain a robust representation of the current market landscape. The flagship BSE Sensex will see a notable update, with JSW Steel being removed and Zomato making its debut. The BSE 100 index will also undergo a substantial overhaul. Ashok Leyland, P.I. Industries, IDFC First Bank, Indian Railway Catering and Tourism Corporation, UPL, and APL Apollo Tubes are slated for removal. In their place, Jio Financial Services, Suzlon Energy, Adani Green Energy, Adani Power, Samvardhana Motherson International, and PB Fintech will be added. In the BSE Sensex 50 index, companies being removed include HDFC Life Insurance Company, Bharat Petroleum Corporation, and LTI Mindtree. Meanwhile, Zomato, Jio Financial Services, and Hindustan Aeronautics will be added. The BSE Sensex Next 50 will undergo an extensive reshuffling. Eight companies, including Adani Green Energy, HDFC Life Insurance Company, Bharat Petroleum Corporation, LTIMindtree, Samvardhana Motherson International, PB Fintech, Suzlon Energy, and Adani Power, will join the index. On the other hand, companies such as Zomato, Hindustan Aeronautics, Ashok Leyland, P.I. Industries, IDFC First Bank, Indian Railway Catering and Tourism Corporation, UPL, and APL Apollo Tubes, will exit. Powered by Capital Market - Live

The floor price of Rs 265.91 is at a discount of 2.81% to the previous day's closing price of Rs 273.60 on the BSE. The company stated that it may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined by the company in consultation with the book running lead managers appointed for the issue. Further, the food delivery company informed that it has received communication regarding liquidation of Zomato Internet LLC (ZIL), a step down subsidiary of Zomato effective from 20 November 2024. It had already disclosed in red herring prospectus dated 6 July 2021 and prospectus dated 19 July 2021 that ZIL didn't have any active business operations and was under the process of liquidation. Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners. Zomato's consolidated net profit surged 388.89% to Rs 176 crore on 68.5% jump in revenue from operations to Rs 4,799 crore in Q2 FY25 over Q2 FY24.Powered by Capital Market - Live

Zomato has launched a qualified institutional placement (QIP) issue today with floor price of Rs 265.91 per equity share. Powered by Capital Market - Live

The domestic equity benchmarks traded with minor gains in early trade. The Nifty traded above the 24,450 mark. IT, financial services and private bank stocks advanced while realty, oil & gas and PSU bank shares declined. At 09:30 IST, the barometer index, the S&P BSE Sensex, added 68.35 points or 0.09% to 80,289.28. The Nifty 50 index rose 12.80 points or 0.05% to 24,484.90. In the broader market, the S&P BSE Mid-Cap index rose 0.24% and the S&P BSE Small-Cap index added 0.17%. The market breadth was positive. On the BSE, 1,550 shares rose and 1,347 shares fell. A total of 110 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 3,978.61 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,869.06 crore in the Indian equity market on 22 October 2024, provisional data showed. According to NSDL data, FPIs have sold shares worth over Rs 89,255.98 crore (so far) in the secondary market during October 2024. This follows their purchase of shares worth Rs 46,552.40 crore in September 2024. Economy: The International Monetary Fund (IMF) maintained its June growth rate projects for India in its latest World Economic Outlook (WEO). IMF stated that India is set to grow at 7% in the current fiscal year ending March 31, 2025 and 6.5% in the next fiscal year (FY2025-26). Numbers to Track: The yield on India's 10-year benchmark federal paper added 0.01% to 6.939 as compared with previous close 6.938. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.0725, compared with its close of 84.0800 during the previous trading session. MCX Gold futures for 31 October 2024 settlement shed 0.03% to Rs 78,629. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 104.14. The United States 10-year bond yield gained 0.24% to 4.232. In the commodities market, Brent crude for December 2024 settlement lost 17 cents or 0.22% to $75.87 a barrel. Stocks in Spotlight: Zomato declined 3.63%. The company's consolidated net profit surged 388.89% to Rs 176 crore on 68.5% jump in revenue from operations to Rs 4,799 crore in Q2 FY25 over Q2 FY24. Gross order value (GOV) growth across the company's B2C businesses improved to 55% YoY to Rs 17,670 crore in Q2 FY25. Zensar Technologies slipped 2.36% after the company's consolidated net profit declined 6.2% to Rs 156 crore in Q2 FY25 as compared with Rs 158 crore in Q2 FY24. Revenue rose 1.55% YoY to Rs 1,308 crore during the quarter. Persistent Systems rallied 3.50% after the company reported 6.2% increase in consolidated net profit of Rs 325 crore during the quarter as compared with Rs 306 crore in Q2 FY24. Revenue jumped 5.84% YoY to Rs 2,897 crore during the quarter. Global Markets: The Dow Jones index futures were down 135 points, indicating a weak opening in the US stocks today. Asian stocks traded mixed on Wednesday. However gains were capped as rising U.S. Treasury yields and the looming presidential election continued to weigh on investor sentiment. Hong Kong's stock market led the region, buoyed by a strong debut from China Resources Beverage. Chinese equities also extended their recent rally following Beijing's stimulus measures, including a surprise interest rate cut by the People's Bank of China on Monday. US stocks saw a flat overnight session. Mixed corporate earnings and the ongoing uncertainty surrounding the U.S. presidential election contributed to the cautious mood. At the close in NYSE, the Dow Jones Industrial Average declined 0.02%, while the S&P 500 index declined 0.05%, and the NASDAQ Composite index added 0.18%. General Motors stock rose 10% after the company reported stronger-than-expected third-quarter earnings, driven by robust revenue growth and improved profitability. Verizon stock fell 5% after the telecom giant reported mixed third-quarter results, with earnings slightly beating expectations but revenue falling short. Powered by Capital Market - Live

Securities in F&O Ban : Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilizers and Chemicals , Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), IEX, India Mart Intermesh, L&T Finance, Manappuram Finance, Piramal Enterprise, PNB, RBL bank, Sail. Results Today: Hindustan Unilever, Pidilite Industries, TVS Motor Company, United Spirits, Aster DM Healthcare, AU Small Finance Bank, Bajaj Finserv, Bajaj Holdings & Investment, Birla Corporation, Birlasoft, CARE Ratings, Craftsman Automation, Fedbank Financial Services, Fino Payments Bank, Godrej Properties, Heritage Foods, , IIFL Finance, Johnson Controls-Hitachi Air Conditioning India, KPIT Technologies, Karnataka Bank, Dr. Lal PathLabs, MAS Financial Services, Metro Brands, Piramal Enterprises, Stocks to Watch: Zomato's consolidated net profit surged 388.89% to Rs 176 crore on 68.5% jump in revenue from operations to Rs 4,799 crore in Q2 FY25 over Q2 FY24. Gross order value (GOV) growth across the company's B2C businesses improved to 55% YoY to Rs 17,670 crore in Q2 FY25. Zensar Technologies' consolidated net profit declined 6.2% to Rs 156 crore in Q2 FY25 as compared with Rs 158 crore in Q2 FY24. Revenue rose 1.55% YoY to Rs 1,308 crore during the quarter. Persistent Systems reported 6.2% increase in consolidated net profit of Rs 325 crore during the quarter as compared with Rs 306 crore in Q2 FY24. Revenue jumped 5.84% YoY to Rs 2,897 crore during the quarter. Amber Enterprises reported consolidated net profit of Rs 21 crore in Q2 FY25 as compared with net loss of Rs 5.7 crore in Q2 FY24. Revenue stood at Rs 1,685 crore in Q2 FY25, up 81.7% YoY. Bajaj Finance reported 13.03% jump in consolidated net profit to Rs 4,014 crore in Q2 FY25, up 13.03% as compared with Rs 3,551 crore in Q2 FY24. Revenue increased 27.72% YoY to Rs 17,095 crore during the quarter. FY25 credit cost guidance hiked from 1.75- 1.85% to 2-2.5%. Adani Green Energy's consolidated net profit jumped 39% to Rs 515 crore in Q2 FY25 as compared with Rs 371 crore in Q2 FY24. Revenue increased 38% YoY to Rs 3,055 crore during the quarter ended 30 September 2024. Powered by Capital Market - Live