Wealth Creation Pick By Anil Singhvi - Zomato: Target price Rs 400 - Check Details

Zomato Share Price Target By Anil Singhvi, Zee Business Wealth Creation Pick: The share market was extremely volatile last week. It gained on two of the five trading sessions and lost on three. Amid this volatility, there is a huge opportunity for wealth creation and Zee Business Managing Editor Anil Singvhi has suggested a stock for wealth creation. The stock suggested by Singhvi has already gained around 191 per cent in one year. 

Wealth Creation Pick By Anil Singhvi - Zomato

The first Wealth Creation Pick by Anil Singhvi is the online food delivery app Zomato. The market wizard expects a good return from this stock in the long run.

Zomato Share Price Target - Anil Singhvi's View

Singhvi said that Zomato is now a profitable company and its profit is expected to reach 1,000 crore soon. 
 
For the uninitiated, the company reported a consolidated net profit of Rs 138 crore in the third quarter ended December 31, 2023.

"Blinkit's EBITDA is expected to be positive soon. The management has issued a guidance and said that Blinkit will have more value than ZOMATO in the next 10 years. Blinkit is expected to break even adjusted EBITDA in Q1FY25. Also, brokerage house Jefferies has set a big target of Rs 400 for Zomato by March 2029," he said.

#ZeeWealthCreation | 18th March 2024

Zee Business LIVE: https://t.co/KbphQkuirG#StockMarket #StockMarketNews #Zomato #StocksToBuy @ZeeBusiness pic.twitter.com/tLsabD9GOK

— CA Anil Singhvi Zee Business (@AnilSinghvi_) March 18, 2024

Zomato Share Price Target By Anil Singhvi

Anil Singhvi has set three targets for Zomato stock - Rs 250, Rs 300 and Rs 400. The stock may achieve the target of Rs 400 in 2-3 years. 

"I have been saying that this is one of the stocks which is bound to grow and therefore one should keep this in his portfolio. If nothing goes wrong, Zomato can also become a part of Nifty someday. There is growth in the company and a good business prospect. That's why Zomato is the first stock of our Wealth Creation Week," he added.

Zomato Share Price History

Shares of Zomato have given a positive return of around 56 per cent in six months and a 191 per cent return in one year. Shares of Zomato, which has a market cap of Rs 1,41,028 crore, have a 52-week high of Rs 175.50 and a 52-week low of Rs 49.

Meanwhile, the counter opened at Rs 162.35 on Monday and gained around 2.8 per cent to touch the day's high of Rs 164.45. The counter had closed at Rs 159.90 in the last trading session.