Zomato block deal: 2.1% equity changes hands, stock slips over 2%; Antfin Singapore likely seller

Zomato block deal: Shares of Zomato on March 6 slipped over 2.5 per cent in the morning deals after 2.1 per cent equity shares changed hands via a block deal. As per Zee Business research, Antfin Singapore may have offloaded stakes in the food delivery company.

At around 9:23 a.m., shares of Zomato traded 2.77 per cent, or Rs 4.6, lower at Rs 161.45 apiece. The market capitalisation of the company at around the same time stood at Rs 1,42,263.11 crore. 

Zee Business panelist Kunal Saraogi recommended buying Zomato shares on dips while keeping the stop loss at Rs 155. As per Saraogi, the overall chart is strong. 

This was the second session in a row where Deepinder Goyal's company's shares traded in negative territory. Prior to this, on March 1, 2024, Zomato shares clocked a new milestone as the stock of the food services aggregator jumped as much as Rs 7.95, or 4.8 per cent, to hit an all-time high of Rs 173.45 on the BSE, surpassing an earlier peak of Rs 169.1 touched on November 16, 2021. 

Zomato Q3 numbers 

Online food delivery firm Zomato Ltd reported a consolidated net profit of Rs 138 crore in the December quarter. The company had posted a consolidated net loss of Rs 347 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.

Consolidated revenue from operations in the third quarter of the ongoing fiscal stood at Rs 3,288 crore as against Rs 1,948 crore a year ago, it added.

Total expenses were higher at Rs 3,383 crore. The same was Rs 2,485 crore in the corresponding period a year ago, the company said.

Zomato share price: Past performance 

In a year, shares of Zomato gained 195 per cent, outperforming Nifty50's rise of over 25 per cent. 

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