Zomato slips 5% on heavy volumes, stock falls below Rs 200 after 8 months

Food aggregator Zomato’s share price fell below Rs 200-mark for the first time in the last eight months, as the stock slipped 5 per cent to Rs 199.75 on the BSE in Tuesday’s intra-day trade amid heavy volumes on concerns around increasing cash burns in Quick Commerce (QC). This was mostly on account of higher discounting by Zepto as it was looking to increase market share post accelerated store expansion, according to analysts.