It's a healthy correction in Zomato stock; buy for long-term: Analysts

The shares of food delivery giant Zomato topped the Rs 100-mark on Tuesday after they surged 10 per cent on the BSE. In comparison, the benchmark S&P BSE Sensex ended 0.6 per cent higher. From its Monday's low of Rs 84 – which was also its 52-week low – the stock staged a massive recovery of 19.5 per cent today.

Shares of the company have been facing massive selling pressure over the past few days as panic selling gripped global stock markets, and especially tech companies. Its shares have corrected 24 per cent over the past five sessions and have crashed a staggering 40.5 per cent from their 52-week high level of Rs 169, touched on November 16, 2021.

This