The foodtech startup Zomato's share tanked around 11% in early trade on Monday after the lock-in period for promoters, shareholders, founders, and employees ended today. These shareholders comprise about 78% of the total paid-up capital of Zomato. The stock has been one of the worst performing IPO (initial public offering) in the last one year, declining over 65% since its listing in July 2021.

The Zomato shares were listed on bourses on July 23, 2021, with a strong premium of over 51%. It was the country's first startup unicorn to go public.

The shares of the Deepinder Goyal-led company, which fell today after two days of consecutive gain, opened a gap down at ₹50.35 from the previous session close of ₹53.65 apiece. During the opening trade, the stock breached the all-time low mark of ₹50.05 apiece, falling to the new low of ₹46.2, down 14.26%, on the Bombay Stock Exchange (BSE).

The share has fallen 11.16% in the past five days, 26.88% in the past one month, 52.07% in the past six months, 65.94% in the year-to-date period and 65.80% in the past one year.

The technical analysis shows the stock has been highly volatile today with an intraday volatility of 9.53% (calculated from the weighted average price). The stock's delivery volume of 69.46 lakh on July 22 has fallen by -33.3% against the 5-day average delivery volume. The Zomato share is trading lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The stock has traded in a wide range of ₹6.65, and more volume is traded close to low price.

At the time of filing the report, 2.1 crore Zomato shares were exchanging hands in the market, as compared to the two-week average of 35 lakh. Amid the continuous sell-off, the company's m-cap has also fallen to ₹37,754.17 crore.

On the other hand, the benchmark index Sensex is down 0.85%, while IT - Software sector is down 0.34%.

Zomato-Blikit Deal

Zomato shares tank 11%; here’s why