Zomato stock is going up despite sensex and Nifty crash says a report

Zomato Share Price: Shares of food delivery platform Zomato are performing well on Friday. Despite a huge drop in the Bombay Stock Exchange (BSE) Sensex and the National Stock Exchange (NSE) Nifty, Zomato's stock is going up. By 12.45 pm, Nifty had fallen 225 points and Sensex 771 points. Despite this huge drop, Zomato's stock is trading more than 2 percent up at around Rs 260.

Sensex fell nearly 1 percent and Nifty fell 0.90 percent

On Friday, the Sensex was trading at 81377 points and the Nifty at 24923 points. The Sensex has fallen by about 1 percent and the Nifty by 0.90 percent. However, Zomato's stock is trading between Rs 254 and Rs 262. Zomato's stock is also trading beyond its 5, 10 and 20 day short term simple moving average (SMA) and 50, 100 and 300 day long term moving average. According to a Live Mint report, the SMA of the stock is as follows.

Day SMA

5 248.04

10 253.61

20 257.65

50 233.77

100 191.31

300 182.87

FII holding highest in Zomato

According to the report, Zomato's return on equity (ROE) is 1.76 percent. Its price to earnings (P/E) is 375.80. This stock is expected to go up to Rs 274.56. Promoter holding in Zomato is 0 percent, mutual fund holding is 12.52 percent and FII holding is 54.11 percent.

Competitive companies are performing mixed

Zomato's share price rose 2.1 percent on Friday. The stocks of its competitors have performed mixed. Stocks of companies like Wipro and Firstsource Solutions are going down. However, Info Edge India and Eclerx Services are moving up. The CEO of Zomato is Deepinder Goyal.

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