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Zomato delivered a stellar listing and stock market debut at Rs 116 per share marking a premium of 52.63% over its issue price share
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The deadline for existing eligible trading and demat account holders to provide the choice of nomination is March 31, 2022.
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Kotak Mahindra Capital, Morgan Stanley, Credit Suisse, Bank of America and Citi were the advisors for Zomato.
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ICICI Bank, ITC, SBI, HCL Tech & Axis Bank were the top gainers on Sensex. While L&T, HUL, Reliance Industries, NTPC & IndusInd Bank were the laggards
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Zomato with first-mover advantage is placed in a sweet spot as the online food delivery market is at the cusp of evolution
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The Nifty Bank trading is still subdued but earnings from ICICI Bank and others will be key triggers
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Zomato with a high free-float market cap due to zero promoter holdings could be a serious contender for entry into the benchmark indices going ahead
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According to Motilal Oswal, the company continues to strengthen the key drivers of its success in India over the last decade
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Engineering and R&D, life sciences, and hi-tech verticals have witnessed impressive growth this quarter.
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If a loss making company like Zomato can command a Rs 1 lakh crore m-cap, one can only imagine what a debt free company like Patanjali can list at