Zomato plunges 15%, hits lowest level since July 2022 on heavy volumes

Shares of food aggregator platform Zomato plunged 15 per cent, hitting almost six-month low of Rs 44.35, on the BSE in Wednesday’s intra-day trade amid heavy volumes. The stock was trading at its lowest level since July 28, 2022. It had hit all-time low of Rs 40.55 on July 27, 2022.

At 10:53 AM, Zomato was quoting 7 per cent lower at Rs 48.65, as compared to 1.04 per cent decline in the S&P BSE Sensex. A combined 115 million equity shares had changed hands on the NSE and BSE till the time of writing of this report.

In the past three months, the stock price of Zomato has tanked 31 per cent, as compared to 1.5 per cent rise in the S&P BSE Sensex.