Why Are Zomato Shares Surging Today?

Zomato‘s share price surged up close to 10% on Thursday to hit a new 52-week high of ₹84.50.

What Happened: While the reason behind the massive surge is not immediately clear, it comes amid broader market strengths. Benchmark indices Nifty 50 and Sensex were surging in the green in early trade on Thursday.

See Also: Could Paytm’s Strong Operational Numbers Bode Well For Q1 Results? Here’s What Global Analysts Think

Shares of the food tech giant have been upbeat for the past couple of months. The stock has gone up over 20% in the past two months.

Several of its peers in the new-age tech stock category were also surging. Shares of Paisabazaar, Delhivery, Nykaa and Paytm were all surging in the green.

Price Action: Zomato’s share price was up 6.32% to trade at ₹82.40 in the early hours of trading on Thursday.

Read Next: Why Adani Green Shares Are Upbeat Today

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: MoversTrading IdeasZomato