Zomato shares had ended at Rs 122 on Thursday, gaining 2.61%. The foodtech company has given multibagger returns of 102% on a year-to-date basis and has outperformed Nifty which has returned nearly 15% during this period. The stock is trading above its 50-day and 200-day simple moving averages (SMAs).
Alipay, owned by Ant Group, was looking to offload its entire 3.44% stake in Zomato, according to reports. A confirmation will come only in the evening when bourses release block and bulk deals data.
Zomato's scrip rose 1.71 per cent to Rs 115.75 level on BSE, as 29.82 crore shares changed hands on the counter, up 115 times over its two-week average volume of 25.87 shares.
This notice is a pre-show cause notice alleging non-payment of GST worth over Rs 400 crore from Zomato and Rs 350 crore from Swiggy, the source has said.