Zomato hits record low, market capitalisation falls below Rs 1 trillion

With the last four day's decline, the stock price of Zomato has tanked 33 per cent from its 52-week high of Rs 169.10 hit on November 16, 2021

Shares of Zomato continued to wilt under selling pressure on Friday, falling 9 per cent on the BSE to Rs 113.75, the lowest close since its listing on July 23, 2021.

The sharp decline in the stock price dragged its market capitalisation (m-cap) to below the Rs 1-trillion mark to Rs 89,537 crore on Friday, the BSE data showed. With this, Zomato has dropped out of the 50 most-valued listed companies in terms of m-cap.

The stock of the food delivery giant traded lower for the fourth straight day, shedding 16 per cent during the period.

In the intraday trade on Friday, it