News > Zomato shares tank 7% on Flipkart’s likely foray into quick commerce

Zomato shares tank 7% on Flipkart’s likely foray into quick commerce

US brokerage Morgan Stanley said that the quick commerce model was working well and Flipkart's foray will only increase its relevance going ahead. Zomato operates its quick commerce service through Blinkit. This triggered a strong selling trend in the counter with over 2 crore Zomato shares changing hands on the NSE around noon. The traded value of the shares stood at Rs 324 crore. Zomato hit the day's low of Rs 149 on the NSE.