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Zomato tumbles 6% as Street cautious on Blinkit buyout

2022-06-28 03:09:24| The Economic Times

The stock, which opened at 73, fell as much as 12% from the day's high before closing at 65.85. About 117 million shares were traded on Monday compared to an average of 43 million shares traded in the previous 10 trading sessions. On Friday, Zomato's board approved the acquisition of Blinkit (formerly Grofers) for 4,447 crore (about $570 million) in an all-stock deal.


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