According to recent reports, the stock prices of Zomato and Nykaa have been rising steadily in the Indian market. Zomato’s shares hit a five-month high recently, fueled by positive investor sentiment towards the company’s growth prospects. The company has been expanding its operations and diversifying into new businesses, including grocery delivery and video streaming, which has attracted investor attention.
Nykaa, a popular e-commerce platform for beauty and personal care products, has also seen a surge in its share prices. The company’s recent IPO was oversubscribed by more than 80 times, indicating strong investor interest. Nykaa has been expanding its offerings to include fashion and apparel, and has been investing heavily in technology to enhance its customer experience.
Both Zomato and Nykaa are seen as promising companies in India’s rapidly growing digital economy, and their recent success in the stock market reflects investor confidence in their ability to continue growing and generating profits.
Continuing its bull run, shares of foodtech giant Zomato rose to a five-month high of INR 66.46 during the intraday trade on Thursday (May 4). Buoyed by increased fund inflow from foreign institutional investors (FII) and positive Q4 numbers of major companies, markets notched up positive numbers while a good chunk of new-age tech stocks also rose alongside. In
Zomato’s stock price surge comes amid continued investor optimism about the company’s growth potential in the Indian food delivery market. The company’s Q4 2022 results, which were released on April 27, showed a 37% year-on-year increase in revenue, with the company’s food delivery segment alone growing by 67%. Zomato’s positive performance in Q4 was driven by the easing of COVID-19 restrictions in many parts of India, which led to increased demand for food delivery services.
Nykaa, which recently went public with a successful IPO, has also seen a rise in its stock price. The company’s IPO was oversubscribed by more than 80 times, indicating strong investor interest in the Indian e-commerce sector. Nykaa’s success has been attributed to its focus on customer experience, brand partnerships, and a wide range of products across beauty and fashion categories.