Zomato gains over 9% after founder Deepinder Goyal shapes this post on Twitter
After Deepinder Goyal, the founder of the food conglomerate Zomato, congratulated Paytm and its founder Vijay Shekhar Sharma on their Q3 results report, Zomato shares surged by more than 9% on the NSE at closing today. Zomato’s stock began trading today at ₹51.20, reached an intraday high of ₹55.30 and a low of ₹51.10, and finally concluded at ₹53.80 per share, up 9.02% from its previous close of ₹49.35. The stock recorded a total average volume of 289,069,473 shares and delivery volume average of 7,090,874,173 shares at an upside rally of the average delivery volume of over 24%.
Deepinder Goyal, the founder of Zomato, praised Paytm and its founder Vijay Shekhar Sharma in a tweet after the shares of One 97 Communications, the parent company of Paytm, rose by over 15% today following its December quarter earnings.
“Congratulations, @vijayshekhar and @Paytm on becoming profitable. Sorry, a bit late to the party – was so busy working on our own profitability ;-),” Deepinder Goyal commented through a Twitter post.
One97 Communications announced on Friday that its consolidated net loss for the December 2022 quarter was ₹392 crore, down from ₹778.4 crore during the same period in the previous financial year. From ₹1,456.1 crore in the same quarter last year, its operating revenue grew by about 42% to ₹2,062.2 crore in Q3FY23. According to the company, it granted 10.5 million loans during the December quarter and its total loan disbursal stood at ₹9,958 Cr in Q3FY23. Paytm reported revenue from payments of ₹1,197 crore in Q3FY23 up by 21% YoY whereas revenue from financial services stood at ₹446 crore.
According to a BSE filing, Zomato will release its financial results for the December quarter on Thursday, February 9. The company recorded a market cap of ₹46,393.21 Cr today. At today’s closing price, Zomato was seen trading above 5, 10, and 20 days SMA but lower than 50, 100 and 200 days SMA.
After impressive Q3 operating profit, the shares of Paytm closed today on the NSE at ₹680.00 apiece level, up by 15.53% from the previous close of ₹588.60. The company’s average delivery volume was 18.76%.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.