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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.

Topics
Buzzing stocks | Zomato | FPI shares

SI Reporter  |  Mumbai 

Zomato delivery partners
Photo: Zomato

Shares of company 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 platforms, and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.

According to reports, clarified that the company will continue to work closely with the Commission to assist them with their investigation and explain to the regulator that their practices are in compliance with the competition laws. "We intend to promptly comply with any recommendations given to us by the Commission," Zomato said in an exchange filing. CLICK HERE FOR FULL REPORT

Meanwhile, the stock price of Zomato has nearly halved this year, down 46 per cent, from a level of Rs 137.75 touched on December 31, 2021. Institutional investors, led by foreign portfolio investors (FPIs) and mutual funds (MFs), have collectively reduced stake by 2 percentage points or 152 million equity shares in Zomato in the January-March quarter (Q4FY22).

Individually, MFs have sold 83 million equity shares or 1.1 percentage point stake in the company during the quarter. Their holding in Zomato decreased to 2.82 per cent from 3.88 per cent at the end of December quarter (Q3FY22).

On the other hand, FPIs have offloaded 68 million equity shares or 0.90 percentage points holding in Zomato to 10.17 per cent. They held 11.04 per cent stake in the company in Q3FY22. However, individual shareholders' holding in Zomato increased by 2.07 percentage points to 9.07 per cent from 7.06 per cent in Q3FY22.

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First Published: Thu, April 28 2022. 12:19 IST
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