Zomato’s share price gains as subsidiary withdraws NBFC licence from RBI

Zomato, India’s leading food and grocery delivery company’s shares zoomed up to 2.27 per cent at Rs 213.80 per share on the BSE in Wednesday’s early morning trade. The share price of the company has surged 67.3 per cent in the last six months, while rallying over 182 per cent in the last one year.

Though, today’s surge in the stock price came after the company on Tuesday announced that it has pulled the plug on its plan to enter the lending business.