Expect Zomato to list at 20% premium: Gaurav Garg, Capital Via

Equity indices were trading over half a per cent higher on Tuesday afternoon. The benchmark S&P BSE Sensex rose 350 points to quote at 52,726 levels. The Nifty50, on the other hand, neared 15,800-mark, up 99 points. ICICI Bank, NTPC, Sun Pharma, HDFC, and Bajaj Auto were the top gainers on the 30-share barometer while Tech M, HCL Tech, Bajaj Finserv, and Infosys slipped the most.

Gaurav Garg, Capital Via Global Research spoke to Money9 and said, “Markets looks to have a great support and any rally which can take the Nifty above 15,930 can push the index above 16,000. Expect to see this level in a week or so.”

On Zomato IPO and the expectation on listing, he said, “Food delivery market has grown 3x in last three years, while Zomato has seen 7x gain in sales. Expect Zomato to list at at least 20% premium to issue price.”

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