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The domestic mutual fund firm sold 4.5 crore shares or 0.5% stake in Zomato at Rs 138.15 a share, according to block deals data on the National Stock Exchange. As of December-end, Motilal Oswal MF held a 1.83% stake in the new-age consumer technology major. The selling exerted pressure on the stock, as it closed 4.4% down at Rs 133.40 on the NSE. ....
The main idea behind the guidelines is to empower the fledgling sector to function and innovate responsibly even in the absence of formal regulations. ....
Zomato shares plunged 4% after a block deal in which equity worth Rs 621.68 crore changed hands. The transaction involved 4.50 crore shares at a discount of 1%. Zomato s stock has rallied over 220% since hitting a 52-week low in January 2023. The company reported strong earnings for the September quarter, with a net profit of Rs 36 crore and a 71% YoY increase in revenue. ....
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). ....