Zomato's stock price surged by 4.51% to Rs 299.20, reflecting strong investor sentiment and positive trends in the food delivery industry.

The stock reached a record high of Rs 304.50 today, indicating heightened investor optimism in food delivery and quick commerce businesses.

With this recent surge, Zomato is approaching a market capitalization of Rs 3 lakh crore.

In a significant development, Zomato is set to be included in the BSE Sensex at the end of December 2024, which will enhance its visibility and credibility in the market.

A leading global brokerage has reaffirmed its 'outperform' rating on Zomato, setting a target price of Rs 370, citing the company's strong market position and substantial market share in quick commerce.

Zomato reported impressive financial results for Q2 FY25, with a consolidated net profit of Rs 176 crore, marking a staggering 388.89% increase, and a 68.5% rise in revenue from operations to Rs 4,799 crore compared to the same quarter last year.

The positive financial results from competitor Swiggy have also bolstered overall investor confidence in the food delivery sector, benefiting Zomato as well.

The platform continues to provide restaurant partners with essential marketing tools and reliable last-mile delivery services, along with a procurement solution named Hyperpure for sourcing high-quality ingredients and kitchen products.

Zomato effectively connects customers, restaurant partners, and delivery partners, offering a range of services including restaurant discovery, food delivery, table booking, and payment processing.