As per a Bernstein note from January, Zomato held a roughly 54% share in the food delivery from a gross merchandise value perspective as of the first half of calendar year 2023, while Swiggy held the rest.
Zomato share price: The counter surged 4.55 per cent to hit a high of Rs 197.80 in Monday's trade. At this price, the stock was just 0.98 per cent away from its record high value of Rs 199.75, a level seen earlier this month on April 12.
Zomato turned PAT positive in Q1FY24, ahead of schedule and the first one to do so. Also, as the firm continued its growth in profitability in Q3FY24, the stock regained attention. But the question remains: Is it still a good ‘buy’?
In a conversation with Sandeep Jethwani in the Create Wealth podcast, Kulashekaran said that he continues to hold 70% of his Zomato shares. ESOPs are employee benefit plan under which employees get the company’s stock at a low price.