Zomato‘s share price extended its gaining streak to the third consecutive session on Friday as the stock surged up around 4% to hit a new all-time high of ₹290.70.

Zomato’s stock has seen a significant surge, with its market value surpassing some of India’s largest companies. On Friday, the stock crossed the ₹2.50 lakh crore mark in terms of market capitalisation.

It is now the 38th biggest company — above JSW Steel, Jio Financial and IRFC — in terms of market capitalisation among NSE-listed firms.

Over the past year, the food delivery giant’s share price has soared nearly 180%. The recent surge in the stock has been supported by bullish calls from several brokerages. In the last six months, the stock has delivered returns of around 75%.

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Last week, UBS maintained a "buy" rating on Zomato’s stock, setting a target price of ₹320, while JP Morgan recently raised its target price from ₹208 to ₹340, earlier this month.

CLSA also gave Zomato an “overweight” call with a target price of ₹353.

Earlier today, the food delivery giant’s quick commerce subsidiary Blinkit said that it had partnered with Apple's reseller in India, Unicorn, to deliver iPhone 16 in Delhi NCR, Mumbai, Pune, Bengaluru and some parts of Lucknow.

Price Action: Zomato’s share price was up 3.98% to trade at ₹289.95 in the late hours of trading on Friday.

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