Zomato Surpasses HAL In Market Cap As New-Age Stocks See Momentum

Food delivery and quick commerce platform Zomato has overtaken state-run aerospace giant Hindustan Aeronautics Ltd. in market capitalisation. As of August 20. Zomato's market cap stands at Rs 3.10 lakh crore, edging past HAL's Rs 3 lakh crore, marking strong movement in the domestic investment picture.

Other new age stocks that have rallied include Paytm's parent company One 97 Communications Ltd. which has seen a 26% spike in share price since January. Following close, Nykaa's parent company FSN E-Commerce Ventures Ltd. has also spiked over 36% year to date.

In the first quarter results of the financial year 2026, the company reported a 23% quarter-on-quarter jump in revenue to Rs 7,167 crore for the April–June period, beating analyst estimates of Rs 6,624 crore. While net profit fell 36% sequentially to Rs 25 crore—missing consensus forecasts—the market appeared to focus on operational improvements and growth visibility in its quick commerce and B2B segments.

Eternal's share price has spiked nearly 20% in the past month, climbing from Rs 256 apiece to Rs 322 apiece in 30 days.

HAL, meanwhile, has had a strong run, buoyed by defence contracts and strategic partnerships. But, in the first quarter of the financial year 2026, Hindustan Aeronautics Ltd. reported a decline in its net profit for the first quarter of the financial year 2026. Its consolidated net profit declined 4.1% on the year to Rs 1,377 crore.

Following the results, UBS reduced its valuation multiples due to concerns over execution challenges, potential risks to margins, and a lack of new large orders until the financial year 2028, signalling challenging times for the company.

HAL's stock has declined 3.80% in the past month bringing the price of the stock down from Rs 4,651 to Rs 4,475 apiece in 30 days.