Zomato is not looking very palatable today morning.  The stock opened 2% lower at Rs.279.80 and went down further to an intraday low at Rs.277.90, down 2.5%.

The stock is in the red as the company has received a GST notice. This is for the period 29 October 2019 to 31 March 2022, demanding GST of Rs.402 crore with interest and another penalty of Rs.402 crore – total demand is for Rs.804 crore.

Obviously, the company feels that it has a strong case and will be filing an appeal against the order.