Zomato shares zoom over 18% in 7 days, hit 52-week high

Shares of Zomato, an Indian online food delivery aggregator, jumped 17.5% in the past week and touched a 52-week high of Rs 80 ($1.07) on 28 June. The company’s shares were listed at a significant premium of Rs 125 per share in 2021 after its IPO. Zomato reported its Q4 results on 19 May, with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) turning positive at Rs 28 crore. The company has narrowed its losses to Rs 188 crore while recording a 70% YoY increase in consolidated revenue at Rs 2,056 crore.