Food delivery company Zomato’s stock market volatility is not being curbed. Even today when the broader market is green, the condition of Zomato Stock is slim. On BSE, the stock fell up to 9.50 percent today and came below the issue price for the first time.
Share price fell till today
Today the stock opened at Rs 83.70 against Rs 82.40 yesterday. After some time it strengthened and went up to Rs 84.40, but after that, the stock started declining sharply. Soon the stock of Zomato fell by 9.49 percent to Rs 75.75. Later it improved somewhat, but even after that, it did not succeed in recovering from the fall. At 2 pm, the stock was trading around Rs 81, down about 1 percent.
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New low today
Zomato’s stock also touched its all-time low today. Now the level of Rs 75.75 is the new all-time low of this stock. This is 8 percent less than the issue price. The company’s stock was listed in the open market on July 23 last year and its issue price was Rs 76. The stock has lost up to 20 percent in the last four trading sessions.
Price fell below 100 for the first time in January
At the end of January, there was a big drop in the share price of Zomato. The stock had fallen by more than 50 percent in the last days of January. After this, the stock had come down to Rs 100 for the first time. Due to this poor performance in the stock market, the company’s cap suffered a lot and last month it came down to Rs 1 lakh crore for the first time. Right now the cap of the company has come down to less than Rs 65 thousand crores.
This stock was at its peak 3 months ago
After listing in the market, this stock had performed well for a few days. On November 16 last year, it had reached Rs 169.10, which is the highest level ever for this stock. It had gained over 65 percent on the day of listing itself. The company had raised Rs 9,375 crore from the IPO. At present, the stock has lost more than 55 percent against its highs.