For the fifth day in a row, Zomato shares increased sharply during Wednesday's trading session, reaching a record high.
In early trading, the stock increased by 3.48% and hit a new high of Rs 188.95. Zomato shares were up 1% at Rs 184.40 a share at 10:50 a.m.
It should be mentioned that Zomato's stock has increased by around 270% in the last year and by almost 50% so far this year.
In general, market experts are feeling very good about Zomato's performance.
Senior VP at Geojit Financial Gaurang Shah advised prospective investors to hold onto their investments until market corrections, while existing investors can keep hanging onto their assets, as Business Today TV reported.
"Those who are keeping may keep their investments. "Wait for dips for new investment," he said.
Similarly, Zomato shares might hit Rs 220 due to the current rise, according to Sebi-registered analyst Mitesh Panchal, who told Business Today investors should put a trailing stop loss around Rs 150.
China's Antfin recently sold off 2.1% of its Zomato interest in bulk transactions earlier this month, while Morgan Stanley bought 5.68 crore shares at a price of Rs 160.10 each.
Furthermore, the BSE and NSE have placed Zomato stocks under the long-term ASM (Additional Surveillance Measure) framework in reaction to the increased volatility, warning investors to proceed with care.
