Paytm to sell entertainment ticketing business to Zomato for ₹2,048 crore. What is the impact of paytm and zomato share tomorrow

 Paytm to Sell Entertainment Ticketing Business to Zomato for ₹2,048 Crore

On August 21, 2024, Paytm announced its decision to sell its entertainment ticketing business, including movie, sports, and event ticketing, to Zomato for ₹2,048 crore. This move marks a significant shift for Paytm, allowing the company to focus more on its core payments and financial services. For Zomato, the acquisition diversifies its offerings beyond food delivery.

**Impact on Share Prices:**

This deal is expected to have mixed effects on the stock market. Paytm shares may see a positive response as the company strengthens its focus on its core operations, potentially leading to increased investor confidence. Zomato shares might also see a boost as the acquisition could expand its user base and revenue streams. However, the actual market reaction will depend on investor sentiment and broader market conditions.