Zomato Stock Price: Market Movers: Zomato Accumulates 7% to Hit All-Time Low; this is why

NEW DELHI: Concerns for investors continued as shares fell to their new lowest level on Wednesday after reports said BofA Securities downgraded the stock to ‘neutral’.

The accountant ended the day at Rs 64.50, down more than 7 per cent from the previous day. The stock is down 62 percent from its all-time highs reached in November of last year.

“The beauty (or should I say the ugliness) of an all-time low in a stock is that anyone who bought at any price is now losing,” Sandip Sabharwal, an independent market commentator, said of the stock’s slide.

The over-the-counter selloff came as nearly all tech stocks suffered. Even those listed in the US are in bearish control. Analysts are hopeful for the long term and believe volatility may continue on these short-term counters.

rare sale

It’s not often that we see a big move down in

. The shares fell 6 percent on Wednesday, even as the company said its consolidated profit for the March quarter rose 16 percent year on year. The company said its energy supply revenue rose 56 percent in the March quarter, while Ebitda rose 69 percent. Cash profit advanced 51 per cent to Rs 563 crore, he said.

“Adani Green Energy’s strong results are a validation of Adani Group’s rapidly expanding focus on renewable energy,” said Gautam Adani, Chairman of Adani Group. “Our green energy value chain investment roadmap is not only unmatched by any other energy and utility business portfolio, but we have also consistently set new industry benchmarks in efficiency, performance and capacity development.

big order

Goldiam International, which makes precious jewelry, said it has received a large order from international clients. The stock jumped more than 3 percent.

“We are pleased to announce that the company has received additional confirmed export orders worth Rs 100 crore from its international clients for the manufacture of diamond-encrusted gold jewellery,” the company said in a regulatory filing.

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