Mutual funds make most buying in Zomato shares in July. Should you invest?
As per ICICI Direct's data, in July, the market value of Zomato across AMCs climbed strongly to ₹1,343 crore compared to ₹963 crore in June month. There was a huge buying in Zomato shares to the tune of 28.71 crore shares in July compared to 17.89 shares in June this year.
During the dark days of July, when a deep bear run toppled the online food delivery company, Zomato's shares to its all-time low on exchanges, mutual funds managers had a different opinion. Zomato emerged as the most bought stock in July by asset management companies (AMCs). Mutual fund houses such as HDFC AMC, UTI AMC, and Nippon AMC were some of the investors in Zomato during the month under review. Notably, the selling pressure in Zomato has eased starting this month and the shares have skyrocketed nearly 41% so far. Analysts are of mixed opinion on Zomato shares going forward.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started