Zomato stock retests IPO price after a long wait. Should you buy now?

Shares of online food delivery company Zomato hit a fresh 52-week high on Wednesday and retested the IPO price levels after a long time.

The company’s shares were offered at around Rs 72-76 at the IPO and the stock is currently trading at Rs 76 apiece on NSE.

The stock has been on the rise continuously for the past five sessions, gaining about 4% in this period. So far this year, it is up by 25%. The returns comfortably beat the benchmark that has risen.

The company has reversed most of its losses incurred post the listing. At one point, it fell to as low as Rs 40.