The first quarter results have encouraged analysts to lower their respective loss forecasts for Zomato
Zomato Ltd’s strong outlook commentary in the June quarter (Q1FY23) earnings call held the stock in good stead on Wednesday. Shares declined meaningfully in early trade against the backdrop of three bulk deals, out of which two were purchase deals. However, the quantum of the sale deal was far higher than the purchase deals combined. Later, the stock retraced its trajectory and ended up flat, which means it is up 20% since Q1 numbers were out on Monday late evening.