Zomato shares tumble over 20% after announcement of Blinkit acquisition1 min read . Updated: 04 Jul 2022, 11:16 AM IST
- Zomato share price has tumbled from ₹70.50 to around ₹55 apiece levels on last six straight sessions
Zomato share price: Extending sell-off on sixth straight session, Zomato shares are down over 2 per cent in early morning deals. Zomato share price today opened with downside gap of over 2 per cent and hit intraday low of ₹54.05 on NSE. The food aggregator stock has been nosediving after it announced to acquire Blinkit (earlier known as Grofers) for ₹4,447 crore. The board of directors of Zomato had approved acquisition of cash-strapped Blinking on 24th June 2022. After announcement of this acquisition, Zomato shares have tumbled from ₹70.50 to ₹55.10 apiece levels, losing over 20 per cent in 6 straight sessions.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more