Zomato share price surged over 4% to touch a 52-week on Monday’s session after a day after the food delivery aggregator said it was increasing its platform fee to ₹6 from ₹5. It is anticipated that the new platform fees, which will be implemented in a few areas like Bengaluru and Delhi, would have a somewhat beneficial effect on the business’s profitability. On Monday, Zomato became a member of the exclusive group of companies with a market capitalisation (m-cap) of ₹2 trillion. Zomato share price opened at an intraday low of ₹225 apiece on BSE, the stock touched an intraday high of ₹232 apiece. In 2024, Zomato’s share price has increased by almost 83% thus far.
“Zomato share price has recently formed a Higher Top Higher Bottom structure and is thus in an uptrend. The 20 DEMA at 206 is a good support for the near term while resistance could be seen around ₹245-250 zone,” said Ruchit Jain, Lead Research Analyst at 5paisa.
