Zomato shares rally 6% to fresh high after UBS raises target price

Zomato's shares surged 6% to a new 52-week high of Rs 280 on BSE on Monday after UBS raised its target price from Rs 260 to Rs 320. The brokerage also adjusted employee cost estimates to account for increased investments in manpower. CLSA has the highest target price on Zomato at Rs 350, while Motilal's target is Rs 300, Nomura's Rs 280, and Bernstein's Rs 275.