Zomato shares opened close to its all-time high and hit a 52-week high of Rs 115 on 18 October after the company tied up with IRCTC (Indian Railway Catering & Tourism Corp).

The food delivery giant will supply and deliver pre-ordered meals through IRCTC’s online catering portal as a proof of concept. The first phase of this service is set to start at five railway stations, including New Delhi, Varanasi, Lucknow, Prayagraj, and Kanpur.

In September, IRCTC signed a deal with MSRTC (Maharashtra State Road Transport Corporation) to enable MSRTC’s bus booking services through its bus booking website.

MSRTC will provide IRCTC with APIs for its online bus booking system, and the railway company will integrate MSRTC’s Bus Ticketing APIs within its website and mobile application.

At 11:49 am, Zomato shares have shredded all their earlier gains and are trading in the negative at Rs 112.45 or 1.23% below its previous close on NSE.

At 11:49 am, IRCTC shares were trading in the negative at Rs 701.15 or 1.88% below its previous close on NSE.