Zomato surges 8% on heavy volumes after 13% fall from record high in Aug

Shares of food delivery platform Zomato surged 8 per cent to Rs 261.50 on the BSE in Thursday’s intra-day trade amid heavy volumes in an otherwise lacklustre market.

According to media reports, JP Morgan has maintained an overweight rating on Zomato, with a target price of Rs 340 per share.

The stock had hit a record high of Rs 280 on August 19.