IndiaMART InterMESH hits fresh record high, surges 12% in a weak market

The stock hit a new high of Rs 2,143, appreciating 120 per cent against its issue price of Rs 973 per share.

Shares of IndiaMART InterMESH were trading higher for the fifth straight day, up 12 per cent at Rs 2,143 on the BSE, in an otherwise weak market on expectations of strong September quarter earnings. It was quoting at its highest level since its listing on July 4, 2019.

In the past two months, the stock of India's largest online business-to-business marketplace has zoomed 83 per cent, as compared to a per cent decline in the S&P BSE Sensex. The stock now trades at more than double the value of its issue price of Rs 973 per share.

The online B2B