Zomato slips despite receiving record Mother's Day orders; other QSR stocks also in red

Zomato Share Price: Zomato shares slipped on BSE on Monday (May 13, 2024) despite the food delivery company reported that it had received its highest orders so far on Mother's Day.

Among other Quick Service Restaurant (QSR) stocks, Devyani International Limited, Sapphire Foods India, and Jubilant FoodWorks slipped, but Anjani Foods rose on Monday.

Zomato Share Price

Zomato says that bookings in fine dining, casual dining and food aggregators on Mother's Day surpassed the bookings on New Year, Valentine's Day or any Sunday.

Among other important development, M/s S.R. Batliboi & Associates LLP (Firm Regn. No. 101049W/E300004), statutory auditors of Zomato Hyperpure Private Limited (“ZHPL”) and Blink

Commerce Private Limited (“BCPL”), wholly owned subsidiaries of the company, have resigned w.e.f. May 12, 2024.

"The reason for resignation is to allow for appointment of the current statutory auditor of the Company, M/s Deloitte Haskins & Sells LLP (Firm Regn. No. 015125N), as the statutory auditor of ZHPL and BCPL as well, in order to make the audit process more efficient," Zomato said in a statement. 

In the first session after the development, after closing at Rs 201.40 on Friday, the stock of Zomato slipped by 2.46 per cent to the Monday's low of Rs 196.45.

The stock that opened at Rs 205.50 on Monday was trading lower by 1.94 per cent, or Rs 3.90, at Rs 197.50 at 10:18 am on Monday.

Devyani International Ltd share price

After Friday's close of Rs 161.20, Zomato shares slipped by 0.74 per cent to Monday's low of Rs 160.0.   

The stock of the company was trading lower by 0.43 per cent, or Rs 0.70, at Rs 160.50 at 9:59 am on Monday.

Sapphire Foods India 

After closing at Rs 1419.05 previously, Sapphire Foods India shares slipped by 4.87 per cent to the day's low of Rs 1350.00 on Monday.

The stock the firm was trading lower by 3.68 per cent, or Rs 52.20 at Rs 1,366.85 on Monday.

Jubilant FoodWorks 

After closing at Rs 462.40 on Friday, the stock of Jubilant FoodWorks slipped by 1.10 per cent to the day's low of Rs 457.30 on Monday.

Jubilant FoodWorks shares were trading lower by 0.99 per cent, Rs 4.60, at Rs 457.80.

The company also announced its fourth-quarter results on Friday.

Anjani Foods 

Anjani Foods made a strong opening on BSE on Monday as it rose by 5.98 per cent to the day's high of Rs 34.90 after closing at Rs 32.93 in the previous session.

The stock, however, slipped, and was trading lower by 0.58 per cent, or Rs 0.19, at Rs 32.74 on Monday.