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The stock traded at a P/E multiple of 36.93, while the price-to-book value ratio stood at 9.65.

​Price sustaining above the recent supply line breakout area as buying demand emerged from the 50 days EMA signalling positive bias.

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Zomato, incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 45495.28 Crore) operating in Services sector.

They want to deal with less vendors and they want to drive more efficiency out of the same dollar they spend. So vendor consolidation deals are witnessing a strong momentum.

​We see a lot of deals in the market which are structural cost takeout and these mega deals that are out of the market for the first time going into a US recession

The brokerage expects some moderation in ROEs post the merger and await details on regulatory dispensation.

"There is some news that because of this merger, huge headway gets created because of which foreign funds will have to buy because of the foreign indices. I think those are the technical factors which might be supported in the near term. But longer term we will need to see how the entire merger plays out and to that extent, building in a case that the stock can rally hugely from here in the short run might not be the right one."

Headquartered in Hyderabad, Brightcom is in the business of ad-tech, new media and digital advertising, and has subsidiaries and operations in various geographies, including the US, Israel, Latin America, Western Europe and Asia Pacific regions.

A total of 276,451 shares changed hands on the counter till time (IST).