Zomoto's share price has increased

Zomoto’s share price has increased

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Zomato’s share price has increased after its tie-up with IRCTC., Zomato’s stock reached a 52-week high of Rs 115.10 on Wednesday, October 18, 2023, following the announcement of the partnership.

Zomoto share price increased after it tied up with IRCTC.

The share price of food delivery company Zomoto increased after it tied up with IRCTC. Indian Railway Catering & Tourism Corporation has entered into an agreement for food delivery. After this, Zomoto share price has increased to the highest level in the last one year.

Zomoto has partnered with IRCTC to launch the service in five railway stations namely Delhi, Prayagraj, Kanpur, Lucknow and Varanasi in the first phase. Zomoto plans to deliver food in advance through IRCTC’s online catering portal.

The deal will allow Zomato to supply and deliver pre-ordered meals through IRCTC’s online catering portal at five railway stations in the first phase.

This is expected to expand the range of food options available to rail passengers and enhance their travel experience.

Zomato is one of the leading food delivery platforms in India, with over 200 million monthly active users and more than 3 lakh restaurant partners. The partnership with IRCTC is seen as a strategic move to tap into the huge potential of the railway catering segment, which serves over 23 million passengers daily.

In the evening, not only Zomoto shares, but IRCTC shares fell slightly. The stock fell 0.08 percent to Rs 714.05 in morning trade. IRCTC is soon to launch bus ticket booking service as well as train ticket booking. That means tickets can be booked through IRCTC bus booking portal, website.

Information on stock performance is provided here only and is not investment advice. Investing in share market is subject to risks and consult your advisor before investing

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