Zomato shares in focus after launch of AI-backed customer support platform Nugget

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Zomato shares will remain in focus on Tuesday after CEO Deepinder Goyal unveiled Nugget, an artificial intelligence (AI)-backed customer support platform, which powers its food delivery business, quick commerce vertical Blinkit and Hyperpure.

"Nugget helps businesses scale support effortlessly—highly customizable, low-cost, no dev team needed. No rigid workflows, just seamless automation," Goyal said in a post on X.



The company developed Nugget as an internal tool over the past three years, and it now supports over 15 million interactions per month on its platforms. "We’re now opening it up to businesses worldwide—90% of companies who’ve seen Nugget have signed up," he added.This is the first product from Zomato Labs, the company's incubator for in-house innovations.Also Read: Stocks in news: Zomato, Paytm, SBI Card, GMR Airports, Uno Minda, Ajax Engineering

Zomato’s board earlier this month approved a resolution to change the name of the food and grocery delivery firm to Eternal Ltd. Eternal will house the company’s four businesses – food delivery platform Zomato, quick commerce firm Blinkit, going-out offerings under District, and business-to-business grocery supply vertical Hyperpure.Also Read: Radhakishan Damani, Jhunjhunwalas & other top investors lose Rs 81,000 cr in market rout

Zomato shares target price


As per Trendlyne data, the average target price of the stock is Rs 292, which indicates an upside of 33% from the current market prices. The consensus recommendation from 28 analysts for the stock is a 'Buy'.

Zomato technical indicators


Technically, the stock's relative strength index (RSI) is at 41.8. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -7.8, which is below its center line, this is a bearish indicator.

The stock is trading below its 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).

Zomato shares performance


On Monday, Zomato shares closed at Rs 218.5, up 1.2% on the BSE, while the benchmark Sensex surged 0.08%. The stock has declined 21% year-to-date but gained 321% in the last two years. The company’s market capitalization stands at Rs 2,10,908 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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