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.