The dean of valuation on why he doesn't see the food delivery company's fair value materially change and how 'numbers' flow from the 'story' in investing
After sinking close to 60 percent since listing, over the past three months, Zomato’s stock price has been going up, and it hit a 52-week high of Rs 105 per share on Monday. The food delivery company reported a first-ever net profit in 15-years of Rs 2 crore in the previous quarter. In the last few months, several global brokerages have revised their rating to ‘buy’ and ‘outperform’. Some analysts, to explain the renewed confidence, point out that Zomato has a long runway for customer acquisition and revenue growth.