Zomato, Paytm: New-age stocks hit multi-month highs; is there more upside?

New-age companies may rise up to 29 per cent in the forthcoming seasons as market sentiment improves amid record-breaking run in benchmark indies

The benchmark indices, BSE Sensex and Nifty 50, scaled a new historic peak on Thursday, with positive sentiment fuelling further aggressive momentum. During this euphoric run, shares of new-age companies are not far behind in making their marks.

PB Fintech and Zomato both reached a new 52-week, soaring 11 per cent and 4 per cent, respectively, so far in this month. Likewise, Delhivery crossed the 8-month high, striking a new monthly peak. 

To understand whether new-age companies to trend positively along the benchmark indices, lets consider the technical outlook:-

Zomato Ltd (ZOMATO)

Likely target:  Rs 100

Upside potential: 29%

Shares of Zomato