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Big fall in Zomato shares, closed below listing price for the first time

Zomato Share Price: Friday was a very bad day for the food delivery company Zomato, which made investors rich with its explosive listing on the stock exchanges. For the first time since its listing on the stock exchange, Zomato’s share rate fell below its listing price.

Zomato dropped by 10 percent
On the fourth day, the stock of Zomato continued to decline and in Friday’s trading session, the stock of Zomato fell flat. The stock of Zomato had fallen by 10 percent to a low of Rs 112.55. But at the close of the market, with a fall of 9.23 percent, it was settled at Rs 113.65. Let us tell you that Zomato was listed at Rs 115 per share while the issue price was Rs 76 per share.

Market cap below Rs 1 lakh crore
With a big drop in Zomato on Friday, the company’s market capitalization has come down to Rs 89,458 crore below Rs 1 lakh crore. The highest level of Zomato has been Rs 169 per share. Many brokerage houses have given a salad of buying in the stock of Zomato. The future of the food delivery business is being said to be bright. A target of up to Rs 220 has been given for Zomato. But after the market trend, it is feared that the stock of Zomato may go down even further.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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