Zomato slips over 8% in three days

26 Sep 2022 , 03:08 PM

Shares of the food delivery company lost 8.67% in three trading sessions from its recent closing high of Rs 63.45 on 21 September 2022. On the BSE, 31.25 lakh shares were traded in the counter so far compared with average daily volumes of 71.76 lakh shares in the past two weeks. The stock hit a high of Rs 60.55 and a low of Rs 57.45 so far during the day. The stock hit a 52-week high of Rs 169.1 on 16 November 2021. The stock hit a 52-week low of Rs 40.55 on 27 July 2022. The stock had underperformed the market over the past one month, declined 6.38% compared with 2.89% fall in the Sensex. The scrip had underperformed the market in past three months, dropped 12% as against Sensexs 7.47% rise. The counter had also underperformed the market in past one year, slumped 59.66% as against 4.9% decline in the Sensex. On the technical front, the stocks daily RSI (relative strength index) stood at 42.159. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 58.17, 60.20 and 80.16, respectively. These levels will act as crucial resistance zones in near term. Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners. The online food delivery platform reported a consolidated net loss of Rs 186 crore in Q1 FY23 as against net loss of Rs 360.70 crore in Q1 FY22. Revenue from operations stood at Rs 1,413.9 crore in Q1 FY23 up 67.44% from Rs 844.4 crore reported in Q1 FY22. Powered by Capital Market – Live News