Zomato Closes at ₹201.20, Falls 1.48% Amid BofA Downgrade

28th March, 2025 / 3:30 PM

Zomato share prices touched ₹201.20 in comparison to the opening price of ₹204.24, which is 1.48% lower than the latter. The stock also opened 0.98% lower than the closing price of ₹206.28 on March 27. Also, on March 27, the opening price of ₹204.47 was higher than the closing price on March 26, i.e., ₹203.29.

By midday, the stock was trading at ₹203.60, and this was 0.29% less than the opening price. It did start low and then hit a sudden peak of ₹209.60 before falling sharply to the midday figure, which was the lowest till then. This comes amidst slightly volatile times at Zomato, with the stock being downgraded by BofA and a cut in its target prices. It remains to be seen whether the stock can recover lost ground down the line.

28th March, 2025 / 12:30 PM

It has been a slightly turbulent time for the Zomato stock, which has lost some of its value in recent days. Today, it opened below yesterday’s closing price, and the price was at ₹203.60 by midday, which is 0.29% lower than today’s opening price of ₹204.24. The stock, interestingly, started low and then hit a sudden peak, touching even ₹209.60 before falling to the midday figure, which is the lowest threshold seen today.

It could be due to the news release regarding the company firing a large number of personnel without notice and other concerns raised by investors. It remains to be seen whether any other surge is in the offing or whether the downward momentum will continue. 

28th March, 2025 / 9:30 AM

Zomato share prices opened 0.98% lower at ₹204.24 in comparison to yesterday’s (March 27) closing price of ₹206.28. The opening price of ₹204.47 on March 27 was higher than the closing price of ₹203.29 on March 26. Hence, it has been a mixed bag for the stock on the back of intensifying competition in its core business and also in the QC category, where rival Zepto is reportedly moving towards an IPO. 

At the same time, BofA downgrading the stock and cutting target prices led to a minor slump earlier for not just the Zomato stock, but also for its closest rival Swiggy. It remains to be seen whether the stock holds up in trading today or continues downwards. 

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