Shares Of This Company Crashed, And Investors Lost Five Percent On Each Stock

Shares of this company crashed, and investors lost five percent on each stock.

Following the resignation of Zomato co-founder and chief technology officer Gunjan Patidar, the company’s stock opened with a decline of nearly five percent on Tuesday.

This is the biggest decline seen in the company’s stock in recent times. Let us tell you, this morning the stock opened at 57.65, down 4.31 percent on BSE, while on NSE the stock opened at 57.30, down 4.97 percent.

During this period, the volume of shares on BSE was 14.86 lakh and on NSE it was 2.20 crore.

Shares are handled in day trading.

Zomato’s stock saw a slight rise in the day’s trading. Till 1:30 pm, the stock NSP was trading at 58.80, down 2.57 percent, while the scrip was down 2.49 percent at 58.75 on the BSE.

The stock also touched an all-time high of 59.55 on the NSE during this period.

Patidar was associated with the beginning of the company.

Patidar’s name was included in the few select employees of the company who were associated with the company since its inception.

In the regulatory filing given by the company on Monday, it was said that he was associated with the company for the last ten years. He has been instrumental in making the company tech efficient.

However, why the resignation was done on his behalf? Nothing was said by the company on this.

Shares of this company crashed: Mohit Gupta left the company.

In November last year, Mohit Gupta, another co-founder of the company, said goodbye to the company.

He joined the company as CEO 4.5 years ago and was made the co-founder of the company in 2020.

Earlier, Nitin Savara, Deputy Chief Financial Officer, and Siddharth Jhawar, Vice President, Global Growth, had also resigned from the company recently.

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EMI burden on borrowers increased again, this government bank increased interest rates.

Interest rates have been increased by the government bank Indian Bank. The bank has increased the MCLR by 25 basis points or up to 0.25 percent.

The bank has increased interest rates at a time when the Reserve Bank of India (RBI) increased the repo rate by 35 basis points or 0.35 percent to 6.25 percent last month.

In the information given by the bank to the stock market, it was said that the Marginal Cost of Funds Based Lending Rate (MCLR), Treasury Bills Linked Lending Rates (TBLR), Base Rate, and Benchmark Prime Lending Rate (BPLR) have been reviewed, After which it has been decided to increase it.

Let us tell you, MCLR, TBLR, BPLR, and Base Rates of different tenures are used for giving auto, personal, and home loans. An increase in this can lead to an increase in EMI.