Zomato Shares Up 3% On Blinkit Infusion, Brokerage Optimism

Even at 11 AM, the stock remained up by 3.1% against its previous close of INR 222.60. At this price, Zomato’s market capitalisation stood at INR 2,21,572 Cr, with a trading volume of 1.8 Cr shares

Just a day ago, Zomato injected another INR 1,500 Cr into Blinkit, following an infusion of INR 500 Cr last month. Cumulatively, the company has invested INR 4,300 Cr in Blinkit since its acquisition

The stock’s rally also coincided with global brokerage firm Bernstein reiterating its optimism on Zomato, maintaining an ‘outperform’…