Zomato CEO Deepinder Goyal's Stake Hits Rs 8,464 Crore Amid Stock Surge
The company's market cap closed at Rs 2.02 lakh crore.
Zomato Ltd. CEO Deepinder Goyal's stake in the company reached a value of Rs 8,464 crore ($1.01 billion) following a significant rally on Monday. Goyal's 4.26% shareholding was valued at over Rs 8,571 crore at the stock's peak, with the day's gains adding Rs 323 crore to his stake. The stock hit an all-time high, surging nearly 4%.
The company's market capitalisation has risen by 86%, gaining from Rs 1.07 lakh crore at the start of the year to over Rs 2 lakh crore as of 2 p.m. today. The company's market cap closed at Rs 2.02 lakh crore.
This increase was driven by a recent announcement of a platform fee hike, which saw the fee rise to Rs 6 from Rs 5. This is the second increase in three months, following a previous hike to Rs 5 per order.
The surge in share price and market cap highlights investor confidence following the fee hike announcement, propelling Zomato's market cap past the Rs 2 lakh crore milestone.
Shares of Zomato closed 3.05% higher at Rs 229.25 per share, as compared to a 0.35% advance in the Sensex. The stock rose as much as 4.28% during the day to Rs 232 apiece on the NSE.
