Zomato extends gain, up 5% in 2 days after Alibaba sold 263 million shares

Camas Investments bought 98 million shares worth Rs 608 crore of Zomato via block deal on the NSE on Wednesday

Shares of Zomato moved higher by nearly 3 per cent to Rs 66.90 on the National Stock Exchange (NSE) in Thursday's intra-day trade. In the past two days, the stock of the food delivery firm has rallied 5 per cent after Alibaba-led Alipay Singapore Holding, on Wednesday, sold 262.9 million shares, or 3.07 per cent stake of the company. The shares were sold at Rs 62 apiece

Alipay mopped up a total of Rs 1,631 crore from the sale in which Camas Investments bought 98 million shares, worth Rs 608 crore, via block deals on the NSE, the exchange