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Zomato Shares Increased by Almost 4% After the Company Purchased a Stake in Mukunda Foods

Zomato’s stock jumped more than 4% in early trading today after the business announced that it will purchase a 16.66 percent ownership in Mukunda Foods Private Ltd, a food robotics startup, for $5 million in cash.

On the BSE, Zomato rose 4.37 percent to Rs 79.95, up from the previous closing of Rs 76.60. After three days of continuous losses, the stock has risen. On the BSE, it then plummeted to a 52-week low of Rs 75.55.

Since the beginning of the year, the stock has dropped 44.34 percent and has dropped 10% in the last month.