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Informative

Zomato Shares Surge Over 7% After CLSA Raises Target Price To INR 400 ...

Update / Judgement Date

16 Jan 2025

Source

Inc42

Author

Team — WCP Legal Desk

Reading Time

1 min read

Financial Management

Zomato Shares Surge Over 7% After CLSA Raises Target Price to INR 400: Zomato’s shares surged by over 7% after CLSA, a leading brokerage firm, raised its target price for the company to INR 400. The increased target price reflects Zomato’s strong performance and the firm’s optimism regarding its future growth prospects. CLSA’s upgrade is based on the company’s expanding market share, improvements in profitability, and growth in its food delivery business. Zomato continues to benefit from the growth of the online food delivery market in India, and this positive outlook further boosted investor sentiment.