Zomato shares plummeted 5% and were trading at nearly ₹254.90 on the NSE after Jefferies downgraded the stock to a 'hold' call. Jefferies cited the sharp run-up in the stock through 2024 and concerns over Zomato-owned Blinkit facing rising competition in the quick commerce space. With today's plunge, Zomato's stock has lost 16% of its value in the past month.