This multi-bagger stock did so well, investors became rich within a year.

New Delhi. Shares of Zomato set a new record on Thursday and touched an all-time high of Rs 284.30, up nearly 4.5 percent. Global brokerage firm UBS has maintained its ‘buy’ rating on this multi-beagger stock. Similarly, JP Morgan and CLSA have raised their target price on Zomato shares. Both brokerages estimate Zomato’s GMV growth rate to be seven per cent quarter-on-quarter in Q2FY25. At 3 pm, shares of Zomato were trading at Rs 283.60, up 4.36 percent on the NSE.

From a technical point of view, Zomato share is in a strong uptrend and has come out of the flag formation. At present level it is getting good support at Rs.240. MACD and RSI indicators are also pointing bullish. The stock has gained 127% this year. Also, Nifty has returned 14% during this period.

Stock market chaos: Only 100 shares were sold and the price rose more than 8 percent, shaking the company’s mind.

Gave 187% profit in one year.
Zomato shares have given investors multi-bagger returns in the past one year. The share price has increased by 187% during this period. Similarly, this multi-bagger share has increased by 86% in the last six months. The stock has rallied 7 percent in a month and is up 10 percent in the past five trading sessions.

Shares of Zomato have been rising since September 4, when brokerage firm JP Morgan raised its target price to Rs 340 from Rs 208. The company’s shares have gained about 16 percent since then. JPMorgan has raised its forecast for fiscal 2025 to 2027 by 15 to 41 percent.

Zomato Share Target Price
Global brokerage firm UBS has maintained its buy rating on Zomato shares and has given the multi-beagger stock a target of Rs 320. JP Morgan has also raised its target price to Rs 340 from Rs 208. CLSA’s position is also positive. CLSA has also raised the target price on Zomato shares to Rs 353 from Rs 350.

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