The only seller was Motilal Oswal Mutual Fund, which sold over 2.84 crore shares at a price of Rs 226.85 per equity share amounting to Rs 646 crore.
Among others were Axis Mutual Fund A/C Axis Focused 25 Fund which bought 44 lakh shares for Rs 99.81 crore. BNP Paribas Arbitrage (Rs 16.67 crore), Citigroup Global Markets Mauritius Private Limited (ODI) (Rs 31.71 crore), Matthews Asia Funds Pacific Tiger Fund (Rs 2.05 crore), Matthews Asia Institutional Funds LLC Asia Ex China Equity Series (Rs 59.91 lakh), Matthews Pacific Tiger Active ETF (Rs 1.03 crore), Matthews Pacific Tiger Fund (Rs 1.27 crore), Optimas Global Alpha Fund (Rs 16.67 crore) and Polar Capital Funds Plc-Global Technology Fund (Rs 144.06 crore) were other block buyers of Zomato stock.
Zomato shares had ended at Rs 218.35 on the NSE on Tuesday, down by Rs 10.80 or 4.71% over the Monday closing price. On Monday, the food app stock had hit a fresh 52-week high of Rs 232.
Zomato has been in news lately after it increased the platform fee to Rs 6 per order in key markets like Bengaluru and Delhi. Zomato and its peer Swiggy had started charging platform fee last year and were initially charging Rs 2 per order which eventually rose to Rs 5 in some markets.The recent price hike represents an increase of 20% from the Rs 5 the two platforms were previously charging in these markets. In Bengaluru, Swiggy is also currently teasing a platform fee of Rs 7, which is struck-off and discounted to Rs 6 at checkouts, ET reported earlier.Earlier in April, Zomato increased its platform fee to Rs 5 per order from Rs 4 in key markets including the National Capital Region, Bengaluru, Mumbai, Hyderabad and Lucknow.Platform fees are seen as essential to delivery firms as they look to improve their take rates, which determine the amount of money they make on every order. With a duopoly in place, both Zomato and Swiggy have been experimenting with platform fees to boost their overall revenues and profits.
Zomato shares have been on an uptrend for a longer time frame and have rallied around 175% in the last one year.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Source link