New Delhi: Food aggregator Zomato’s share price touched a record high of Rs 229.25 apiece, up 3.05 per cent from Friday’s closing price, on Monday. Zomato’s share price rose 9.28 per cent in the past 5 days, and 21.55 per cent in the past month.
The jump in the food ordering app’s market cap to Rs 2,02,270,37 crore, propelled its founder and CEO Deepinder Goyal into the billionaire’s club. Goyal owns a 4.2 per cent stake in the food aggregator company. The IIT Delhi graduate’s stake comprises 36.95 lakh Zomato shares valued at Rs 8,400 crore. This is valued at $84 billion in dollar terms.
Zomato-Swiggy hike platform fee
Why is Zomato’s share price rising
Zomato’s share price has surged 300 per cent in 2 years. The Monday rally was propelled by the company’s decision to hike the platform fee by 20 per cent to Rs 7 per order. The platform fee is a fixed price paid by the customer for availing of services on the food delivery platform. It is different from GST and delivery fee. This fee has facilitated the food aggregator to come closer to breaking even with respect to its balance sheet.
Zomato’s share price rose 71.85 per cent in 6 months
Over the past year, Zomato’s share price rose 186.03 per cent
Why Zomato is world’s most expensive delivery stock
In April, Zomato emerged as the world’s most expensive delivery app operator. The company’s stock has outpaced the share price of Deliveroo, DoorDash and Uber prompting Swiss investment bank UBS to set a Rs 250 apiece share price target for Zomato. ICICI Securities mentioned Zomato among its top picks for the first quarter of FY25. ICICI Securities gave a share price target of Rs 300 per share for Zomato.
Deepinder Goyal net worth
Deepinder Goyal’s net worth jumped to Rs 8,400 crore based on his Zomato stock holdings. However, Goyal is known to have a taste for the good life. In May 2024, Goyal purchased land worth Rs 79 crore in Delhi’s Dera Mandi village. He owns the following luxury cards:
Ferrari Roma
Lamborghini Urus
Porsche 911
Aston Martin DB11 AMR
Mercedes AMG
BMW M8 Competition
Zomato share price: The food aggregator app’s stock price surged to a new high on Monday, propelling its founder and CEO Deepinder Goyal into the billionaire’s club. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
