Shares of Zomato soared 19% to a record high of Rs 278.70 on Friday after the company reported a significant increase in profit after tax (PAT) for the June quarter. Zomato’s PAT jumped to Rs 253 crore, up from Rs 2 crore in the same period last year. Following this impressive performance, brokerages like CLSA raised their target price for Zomato shares to as high as Rs 350. CEO Deepinder Goyal announced the launch of “District,” a new platform consolidating dining, movies, sports ticketing, live performances, shopping, and staycations.
Zomato Can Touch 350: CLSA
