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Zomato shares hit a four-month high on April 27, and delivered more than 20 percent return in last one month, surpassing any other indices, after forming a bottom at Rs 49 in the previous month.

The stock settled the last session with more than 4 percent gains at Rs 60.70, the highest closing level since December 29, 2022. After breaking the range of several sessions on April 21, the stock, which traded above 21 and 50-day EMA (exponential moving average), climbed above the 100-day EMA and sustained its upward journey.

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