Zomato shares hit a new high on the National Stock Exchange (NSE) in morning trade, gaining more than 4%.
UBS, a brokerage company, stated in its most recent report that Zomato’s order growth of 1.8% lagged Swiggy’s 3.1% in August, continuing a monthly push and pull trend that began in January 2024. However, when Zomato’s August 2024 volumes are compared to December 2023, the rise is 25%, compared to Swiggy’s 18% increase.
According to the brokerage, Zomato’s gross merchandise value (GMV) growth in Q2FY25 is expected to increase by 7% quarter-on-quarter.
As of 10:57 am, Zomato shares were trading 3.55% higher at Rs 281.40 on the NSE.
