- Zomato's share price dipped another 10% on Monday, January 24.
- The company's shares were trading at ₹102 at 9:42 a.m.
- The company had fallen below its listing price on Friday.
On January 24, one of the top losers in this basket was Zomato, which fell 18%. Analysts like Abhay Agarwal, founder and fund manager at Piper Serica, $4 that this fall in the markets is driven primarily by market correction in Nasdaq over the last month.
The market cap of the food aggregator dropped to ₹74,109 crore (almost $10 billion) compared to the peak valuation of $4on November 12.
It's not just Zomato, other tech companies like Policybazaar, MapmyIndia (CE Info Systems) and Paytm are facing similar trends too.
Source: BSE
The shares of beauty and cosmetics ecommerce company Nykaa hit an all-time low as its shares fell down to ₹1,776 on Monday. The shares of Nykaa have shed 30% of their value from the record high of ₹2,574 touched on November 26.
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