E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings
You are at:Home»Business»Zomato share price: Buy, sell or hold? What retail investors should do – Anil Singhvi explains
Business

Zomato share price: Buy, sell or hold? What retail investors should do – Anil Singhvi explains

By July 27, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

Shares of food aggregator Zomato are under pressure after the lock-in period of pre-IPO ended on July 23. The stock has moved southward by around 18 percent in the last five sessions. On Wednesday, Zomato’s share price hit a fresh low of Rs 40.60 apiece, giving more jitters to retail investors.

Zee Business Managing Editor Anil Singhvi has advised retail investors to stay away from the food delivery platform’s stock and look for better options. He said that it all depends on “how you look at Zomato”, adding that the first factor is “will this selling take a pause now and the scrip will no longer be under pressure?”. The second is that if you buy it now, on what triggers it can gain?.

He said that those selling are holding a stake in Zomato before the IPO. “They are not promoters but have the mindset of promoters. When promoters are selling, what is the need for retail investors to buy?.”

“It might be possible that stock’s price which is Rs 40 now could go up to Rs 50-55, generating 20 percent return. But the scope of the loss is also high,” he said.

“I would suggest that Zomato is not a buy…if your view is short term that is another factor… you make a quick trade and exit. Otherwise, you have better options,” the market guru explained.

At the time of filing this report 11:15 AM, Zomato share price was up by around 5% to Rs 43 apiece on the NSE.

Zomato IPO was listed on the stock exchanges on July 23 last year. The online food delivery giant’s stock has fallen nearly 70 percent this year.



[ad_2]

Source link

Related Posts

Air Duct Repair 101: Everything You Need To Know

By Corbin BowenFebruary 2, 2023

Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant

By January 5, 2023

LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer

By January 5, 2023

Foreign universities will need UGC’s nod to set up campuses in India

By January 5, 2023
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Rashid Khan: A Nightmare For Every Batsmen January 18, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.