MUMBAI – Motilal Oswal Mutual Fund on Monday sold a partial stake in online food delivery aggregator Zomato through the open market, and raked in a profit of Rs 622 crore. The domestic mutual fund firm sold 4.5 crore shares or 0.5% stake in Zomato at Rs 138.15 a share, according to block deals data … Read more
New Delhi: Trimming GMV (gross merchandise value) growth forecast for ’s food delivery segment, domestic brokerage Kotak Institutional Equities has reduced its price target on the new-age stock to Rs 85 from Rs 100 earlier. “Our conversations with industry participants indicate that food delivery GMV growth may remain subdued in the near term owing to … Read more
Food delivery platform Zomato co-founder Mohit Gupta today tendered his resignation from the company. “Over the past few years, I have seen Deepi (Deepinder Goyal) become an even more mature and confident leader who is now completely capable of leading the business into a bright future with all of you by his side. It is … Read more