Urban Company Jumps 18% As Morgan Stanley Bets On Core Business Growth

Shares of Urban Company surged as much as 17.7% to ₹152.20 apiece on the BSE today after Morgan Stanley upgraded the stock to ‘Overweight’, citing improving growth in its core India consumer services business and international operations despite continued investments in InstaHelp. The stock later pared some gains amid profit booking to trade 13% higher at ₹146.70 apiece at 10:26 IST. The company’s market capitalisation stood at ₹22,623.7 Cr (about $2.3 Bn) at the time.