IndiaMart continues to soar, hits new high; stock zooms 63% in 2 months

Last week, Motilal Oswal Financial Services (MOFSL) had initiated the coverage on IndiaMart InterMesh with a "BUY" rating.

Shares of IndiaMart InterMesh hit a fresh record high of Rs 3,883 apiece on the BSE on Tuesday, up over 10 per cent against Monday's close of Rs 3,519.50. With today's gain, the stock of the company has rallied 62.6 per cent in the past two months as compared to over 11 per cent gain in the benchmark S&P BSE Sensex, ACE Equity data show.

At 10:24 AM, the stock was trading nearly 8 per cent higher at Rs 3,800 on the BSE as compared to a 0.25 per cent rise in the benchmark S&P BSE Sensex.

Last week, the domestic brokerage