The actions of the Zomato Food Delivery Company have struck a new weakness of 75.55 rupees, down 1.4% of BSEs Wednesday’s intra-day offers in an otherwise strong market, on reports than the Society and the online grocery store BLINKIT (formerly Grobers) are in talks. For a merge case The stock decreased by 5.5% of its intraour day of 79.95 rupees. The stock fell below its short weak RS 75.75 affected on February 15, 2022 From 11:35, the stock was down 0.5% to RS 76.25. In comparison, the S & P BSE Sensex increased by 1.4% or 777 points to 56,553. The counter attended a huge volume of negotiation of approximately 2.33 million shares in relation to the daily average trading volume two weeks of about 1.4 million shares BSE.
According to a Commercial Standard, Zomato and Blinkit report are in talks for a merger offer, according to conscious sources of development, even if the food delivery platform in a regulatory deposit on Tuesday announced a $ 150 million loan. Grobers India According to sources, what is discussion is an share exchange transaction in which Blinkit would be valued at about 750-800 million dollars. Shareholders and Blinkit investors will have about 10% in Zomato. SoftBank, which has 40% of Blinkit’s participation, spread approximately 4 to 4.5% of the participation of the merged entity. Click here for a full report
Zomato In a regulatory deposit of BSE stated that the Company extended a loan to an interest of 12% per year or more with a tenor of at most one year, and will be given in one or more slices The Zomato Board of Directors also approved the acquisition of 16.66% in equity in Mukunda’s food for a consideration of $ 5 million. Mukunda is a food robotic company that designs and manufactures smart robotic equipment to automate food preparation for restaurants. Their products allow the restaurants at the scale quickly while maintaining the coherence of food quality and customer experience on several outlets.
“Our investment will help faster Mukunda foods, will help reduce restaurant prices, expand margins and improve customer delights,” Zomato said. Zomato’s shares have paid nearly 45% since 45% since the negative stock of the daily graphs on December 30, 2021. The stock became negative, like the 20-DMA (daily moving average) slipped under the 50-DMA. Since then, the stock has barely managed to close above its 20-DMA only twice on 50 trading sessions.
Bears seem to be strongly controlled at the counter, with a high resistance seen for the stock around Rs 80.85 – its 20-DMA, above which the stock can swell to 88-90 odd levels. Disadvantage, the stock has a support near RS 74.70, according to the daily graphs, below that the stock can fall to 65 odd levels of Rs The oscillators of the major momentum on daily and weekly maps are favorable to bears. The directional index) in particular is strong in favor of the bears, while the MACD (divergence of moving convergence) and 14 days RSI (relative force index) are close to the tracks of tracksuit.