Quote on the Zomato IPO listing by Mr. Vinod Nair, Geojit Financial Services
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Below is quote on the Zomato IPO listing by Mr. Vinod Nair, Head of Research at Geojit Financial Services.
"For successful IPO allocation, though the listing is much above the expectations, current investors can hold on to their shares as this new business is forecasted to growth at the high digit in the early stage of the cycle. For new & existing investors, can accumulate on a short to medium-term basis, as the trend of stock price stabilizes. A key factor for the stock price to sustain this euphoria is to demonstrate improvement in profitability in the coming quarters. The company is highly expected to turn into profit from current lose, else the performance will be impacted"
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