Blinkit's decision benefits Zomato, shares hit all-time highs, know how much the share price will reach

Wednesday after Holi is a great day for stock market and Zomato. While on the one hand the market is witnessing a rally on Wednesday, March 27, on the other hand Zomato's stock is making new records for the second day in a row. Shares of online food delivery app Zomato touched a record lifetime high of 189.00, overtaking its previous high.

Blinkit's decision is behind becoming a Stock Rocket. During the trading session on Wednesday, shares of Zomato traded at Rs. opened at 181.80. During this period, the stock also hit its lifetime high of 189.00. At the same time, the stock was trading at Rs 184.80 till 12 noon.

Due to this boom is coming

Blinkit charges its delivery charges in Delhi NCR and some areas of Mumbai at Rs. 11-35 is in the news after increasing. Zomato's profitability is expected to increase due to higher delivery charges. Apart from this, he has also benefited from bumper purchases from Zomato on Holi. Meanwhile, people ordered Gujia and other sweets in abundance.

So on Zomato's online grocery company Blikint, users have done a lot of shopping on the occasion of Holi. The impact is being seen on Zomato's stock on Wednesday. Zomato has given strong returns to its shareholders. Due to heavy buying, Zomato's shares fell to Rs. A historical peak of 189 has been reached. The market expects the fourth quarter of the current financial year to be a great one for Zomato.

1.61 lakh crore market cap

With the shares surging tremendously, Zomato's market cap also rose to Rs. 1.61 lakh crore has been reached. If we believe the brokerage reports on Zomato recently, the rise in Zomato stock will not stop here. Foreign brokerage house CLSA has advised investors to buy Zomato stock with a target price of Rs 227. Jefferies has set a target price of Rs. 205 is given.

On March 28, 2023, Zomato's share price was Rs. 49, which priced the IPO at Rs. Even below 76, but after excellent quarterly results and boosted investor confidence over the last one year, Zomato's stock has impressed its investors and delivered amazing returns. Zomato has returned 270 percent to its shareholders in one year.