Shares of Zomato Ltd. declined the most in seven weeks on Thursday after large trade
At least 38.6 lakh shares changed hands in a bunch trade, according to Bloomberg data. The buyers and sellers were not known immediately.
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Shares of the company fell 1.82% to 83.50 apiece as of 10:23 a.m., compared to a 0.23% decline in the benchmark NSE Nifty 50. The shares declined as much as 4.77% intraday, the most since June 14.
It has risen by 40.22% year-to-date. The total traded volume stood at 2.5 times its 30-day average. The relative strength index was at 59.
Out of the 27 analysts tracking Zomato, 22 maintain a 'buy' rating on the stock, one recommends a 'hold', and four suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 2.6%.
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