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.

Since April 4, 2022, the stock has corrected 13 per cent following reports that the competition Commission (CCI) has ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.

According to reports, Zomato clarified that the company will continue to work closely with the Commission to assist