Zomato hits new record low, falls below issue price of Rs 76 intra-day

In the past three trading days, the stock of the food delivery company has declined 20 per cent after it reported disappointing set of numbers for December quarter

Shares of food delivery company Zomato declined 8 per cent and hit a new low of Rs 75.75 in the intra-day trade on the BSE on Tuesday, falling below the issue price of Rs 76. The shares, however, bounced back and closed 0.4 per cent higher at Rs 82.7 per share.

The market price of the company has plunged over 50 per cent from its record high level of Rs 169.10 hit on November 16, 2021. In the past three months, it has slipped 50 per cent as compared to a 7 per cent decline in the S&P BSE