Zomato has bought a 19 percent stake in advertising tech company AdOnMo and bought a 5 percent stake in software company UrbanPiper, both of which, the company claims, will help Zomato leverage new digital avenues for customer acquisition. It has also announced setting up an NBFC, with a proposed paid-up capital of Rs 3 crore.
Zomato shares have been in a free fall. In the last five trading sessions, the stock has tumbled over 30 percent. The stock is now on the list of additional surveillance measure (ASM) of both exchanges. What does this mean for the stock? That and more answered.