Zomato stock: Zomato, Swiggy, other new-age company stocks vault after FM’s income tax relief

Zomato and Swiggy stocks jumped up to 10% following Finance Minister Nirmala Sitharaman‘s announcement in the Union Budget 2025 that individuals earning up to Rs 12 lakh annually will be exempt from income tax.

The tax relief is expected to increase disposable incomes, boosting consumption.

Other new-age startups serving India’s middle class, such as Nykaa, and Ola Electric, experienced a surge in their stock prices.

This increase is attributed to the finance minister’s revision of income tax slabs and the announcement of a new ₹10,000 crore fund of…