Zomato shares slide for second day; tumble over eight per cent

The stock dived 8.35 per cent to settle at Rs 60.35 on the BSE. During the day, it fell 9.18 per cent to Rs 59.80. At the NSE, it fell 8.04 per cent to settle at Rs 60.55 apiece. Shares of Zomato had fallen by over 6 per cent on Monday also. In two days, the company’s market valuation has fallen by Rs 7,861.49 crore to Rs 47,517.51 crore on the BSE.

Zomato Ltd on Friday said it will acquire Blink Commerce Pvt Ltd for Rs 4,447.48 crore in a share swap deal as part of its strategy of investing in quick commerce business. Blink Commerce Pvt Ltd runs the online quick commerce service under the Blinkit brand.