Zomato Shares Hit 52-Week High on Partnership Deal with IRCTC

zomato shares opened close to its all-time high and hit a 52-week high of Rs 115 on 18 October after the company tied up with IRCTC (Indian Railway Catering & Tourism Corp).

The food delivery giant will supply and deliver pre-ordered meals through IRCTC’s online catering portal as a proof of concept. The first phase of this service is set to start at five railway stations, including New Delhi, Varanasi, Lucknow, Prayagraj, and Kanpur.

In September, IRCTC signed a deal with MSRTC (Maharashtra State Road Transport Corporation) to enable MSRTC’s bus booking services through its bus booking website.

MSRTC will provide IRCTC with APIs for its online bus booking system, and the railway company will integrate MSRTC’s Bus Ticketing APIs within its website and mobile application.

At 11:49 am, Zomato shares have shredded all their earlier gains and are trading in the negative at Rs 112.45 or 1.23% below its previous close on NSE.

At 11:49 am, IRCTC shares were trading in the negative at Rs 701.15 or 1.88% below its previous close on NSE.

Zomato Shares Hit 52-Week High on Partnership Deal with IRCTC

ABOUT ZOMATO

Incorporated in 2010, Zomato Limited is one of the leading online Food Service platforms in terms of the value of food sold. Its offerings include food delivery, dining-out services, Loyalty programs, and others.

As of December 31, 2020, Zomato has established a strong footprint across 23 countries with 131,233 active food delivery restaurants, 161,637 active delivery partners, and an average monthly food order of 10.7 million customers

 

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