Deepinder Goyal is the founder and CEO of Zomato. He has seen a significant increase in his wealth as Zomato’s shares have experienced a remarkable surge over the past year.
Zomato share price today
The online food delivery platform’s shares rose by 4% today. It is reaching an all-time high of Rs 232 on the Bombay Stock Exchange (BSE).It is worth noting that the stock has grown by more than 300% since hitting a low point in July 2023.This surge has propelled Zomato’s market capitalization to over Rs 1.9 lakh crore and Goyal’s net worth to over Rs 8,000 crore. It makes him India’s wealthiest professional manager at the age of 41.Goyal holds 36.95 crore shares. It represents a 4.24% stake in the company.The increase in Zomato’s stock price is attributed to the strong performance of its quick commerce business, Blinkit.Blinkit has been surpassing competitors such as Swiggy Instamart and Zepto. It is expected to become profitable sooner than expected.Zomato has suggested that Blinkit may reach EBITDA break-even by the initial quarter of fiscal year 2025. The enhanced profitability of Zomato’s food delivery segment has instilled greater confidence among investors.
Zomato future price
Analysts anticipate that Zomato will ramp up investments in Blinkit post break-even, potentially resulting in Blinkit’s gross order value (GOV) surpassing that of the food delivery business earlier than anticipated. This strategic move is geared towards fortifying Zomato’s market standing amidst escalating competition.
