Zomato slips 46% so far in 2022 as FPIs, MFs trim stake in March quarter

Shares of food delivery company Zomato hit a new low of Rs 74.65, down 2 per cent on the BSE in Thursday’s intra-day trade. The stock has dropped 6 per cent in the past two trading days.

Since April 4, 2022, the stock has corrected 13 per cent following reports that the competition Commission (CCI) has ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.