Zomato share price falls 3% after ₹3,112-crore block deal: What's happening - Hindustan Times
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Zomato share price falls 3% after 3,112-crore block deal: What's happening

Mar 06, 2024 12:11 PM IST

Zomato share price: At 9.20am, Zomato shares traded at ₹160.80 on the NSE. Check latest updates here

Zomato share price: Shares of Zomato fell 3 percent in opening deals today (March 6). This comes after around 19 crore shares, which accounted for a 2.1 per cent stake in the company, changed hands in a 3,112-crore block deal. At 9.20am, Zomato shares traded at 160.80 on the NSE. 

Zomato share price: Zomato share price fell 3 per cent on March 6. (Reuters Photo)
Zomato share price: Zomato share price fell 3 per cent on March 6. (Reuters Photo)

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On March 4, the stock price of Zomato hit a record high. In the past three months, it has risen over 42 per cent increasing Zomato's market capitalisation to 1.46 lakh crore.

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On Tuesday, Zomato shares closed 1.8 per cent lower at 166.8 on the BSE. Last week, Zomato shares hit a record high reaching 173.5.

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Zomato share price: Zomato reported block deal

This comes as it was reported that China-based Ant Group’s subsidiary Antfin Singapore Holdings Pte is likely to offload up to 2 per cent stake- 17.64 crore shares- in food delivery platform Zomato for 2,800 crore through a block deal. 

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The floor price for the block deal has been fixed at 159.4 per share, as per the report. This represents a 4 per cent discount on the current market price of Zomato stock, it added. 

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