Zomato tumbles 6% as Street cautious on Blinkit buyout https://ift.tt/NdAG1pI stock, which opened at ₹73, fell as much as 12% from the day's high before closing at ₹65.85. About 117 million shares were traded on Monday compared to an average of 43 million shares traded in the previous 10 trading sessions. On Friday, Zomato's board approved the acquisition of Blinkit (formerly Grofers) for ₹4,447 crore (about $570 million) in an all-stock deal.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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