zomato Moving in the right direction at the wrong time – at least that’s what the market thinks.
After market hours on Friday, the Indian food-delivery firm said it would buy 10-minute grocery delivery startup Blinkit for about $578 million in a stock-and-cash deal: a long awaited drama In a highly competitive market for quick commerce – delivery of goods within 10 to 30 minutes of placing an order. But the stock fell as much as 7% on Monday before recouping some losses. The shares have fallen 61 per cent since making the record in November.