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“Close to 85% of Zomato losses are coming from the Blinkit business. One does not know the unit economics of this business and how it is going to pan out. The AOVs are high, the frequency is high, the order growth is fine today but once Blinkit scales up beyond three or four cities, will the economies sustain and where will the losses be?”

Since the start of the year, oilfield services firm Atlas Energy, Chinese sensor maker Hesai Group and restaurant chain Cava are among the companies that have filed for U.S. IPOs.

“I would think that any big rally should be used for people to actually exit or something like in a Zomato. Maybe if you have a three, five-year horizon you might not exit and see if things actually improve. But the results give actually no confidence to come in and buy.”

A total of 7,648 shares changed hands on the counter till 12:19PM (IST)

As of 31-Dec-2022, promoters held 55.72 per cent stake in the company, while FIIs held 20.48 per cent and domestic institutional investors had 13.22 per cent.

On the technical charts, the 200-day moving average of the stock stood at Rs 764.97.

Zensar Technologies, incorporated in the year 1963, is a Mid Cap company (having a market cap of Rs 5892.51 Crore) operating in IT Software sector.

The stock traded at a P/E multiple of 30.63, while the price-to-book value ratio stood at 9.3.

"Even the SIP average sums are going up. Even more beautiful is that the average tenures or the longevity of money staying in the markets are also going up. These are very interesting and very positive trends, which give us confidence that despite some bit of teething trouble, the journey is set to be on the uptick."

The Nifty Realty index was trading 0.09 per cent down at 408.9.