Zomato up 6%, hits new high on improved results; zooms 91% from June lows

Shares of food aggregator Zomato hit a new high of Rs 280, as they rallied 6 per cent on the BSE in Monday’s intra-day trade after analysts said that consistent delivery on growth and strong execution on profitability across Food Delivery and Quick Commerce (QC) would support elevated valuations.

The stock has surpassed its previous high of Rs 278.45 touched on August 2, 2024. It has bounced back 91 per cent from its June month low of Rs 146.85 on the BSE.