Zomato Shares Rise Post Shiprocket Acquisition Denial | Stock Market News
Zee Business Video Team | Updated: December 22, 2023 01:33 PM IST
Zomato clarifies it has no plans for a $2 billion acquisition of Shiprocket, responding to recent media reports. The denial led to a rise in Zomato's share price on Friday, reaching close to its 52-week high. While Jefferies maintains a "buy" rating with a Rs 165 target, they consider the acquisition unlikely due to Zomato's current focus on its core business and Quick Commerce operations.
