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After announcing plans to acquire Blinkit, Zomato’s stock dropped 6.6% on Monday and 8.4% on Tuesday, cutting $1.1B from its market value (Ashutosh Joshi/Bloomberg)

June 28, 2022

Ashutosh Joshi / Bloomberg:
After announcing plans to acquire Blinkit, Zomato’s stock dropped 6.6% on Monday and 8.4% on Tuesday, cutting $1.1B from its market value  —  Zomato Ltd. lost about $1.1 billion of market value in two days after the food-delivery platform announced the acquisition of loss-making quick-commerce …

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