Zomato's shares have gained 110 percent so far this yearA delivery worker of Zomato, an Indian food-delivery startup, prepares to leave to pick up an order from a restaurant in Mumbai, India, July 13, 2021. REUTERS/Francis Mascarenhas/File PhotoA delivery worker of Zomato, an Indian food-delivery startup, prepares to leave to pick up an order from a restaurant in Mumbai, India, July 13, 2021. REUTERS/Francis Mascarenhas/File PhotoShares of India's Zomato surged as much as 19 percent to a record high on Friday, a day after the food delivery company's first-quarter profit blew past expectations, powered by strong growth in its Blinkit grocery delivery business. The stock's surge defied the weakness in the broader market and its 15 percent increase as of 10:19 am. Blinkit's gross order value, the total value of all orders, surged 130 percent in the quarter, much higher than the 97 percent in the previous quarter and Elara Capital's estimate of 100 percent.

Source: bd News24 August 02, 2024 12:03 UTC