Zomato gains 6%; stock rebounds 21% from Wednesday's low

Shares of Zomato moved higher by 6 per cent to Rs 58.65 on the National Stock Exchange (NSE) in Thursday's intra-day trade. With this, the stock of the food-delivery company has rebounded 21 per cent from Wednesday's low of Rs 48.40 as over a dozen institutional investors bought the company's equity shares via block deals.

American ride-hailing giant Uber, on Wednesday, sold its entire 7.78 per cent stake in domestic food-delivery company Zomato to mop up Rs 3,088 crore ($390 million). A total of 612 million shares were sold at Rs 50.44 apiece on the NSE via block deals,