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Zomato plunges on Blinkit Acquisition

Zomato plunges on Blinkit Acquisition

Investors are visibly unhappy with Zomato acquiring instant grocery delivery firm Blinkit. Shares of food delivery service tumbled over 6% in trade today. Pricey valuations forked out to buy the loss-making quick commerce company are a cause of concern for investors. Brokerages across the board seem bullish on Zomato. Sakshi Batra explains.