India, Sept. 4 -- Shares of edtech major PhysicsWallah jumped as much as 6% to touch an intraday high of Rs.127.80 apiece on the BSE today after brokerage firm Motilal Oswal initiated coverage on the company with a 'Buy' rating and a target price of Rs.200.

The stock later pared some of its gains and was trading 5.3% higher at Rs.127 apiece at 11:00 IST. The company's market capitalisation stood at Rs.36,768.7 Cr ($3.8 Bn) at the time.

The broader market also traded in the green amid positive global cues, as expectations of a US Federal Reserve rate hike eased. IT stocks further supported the gains. The BSE Sensex was up 0.74% at 76,713.19, while the NSE Nifty 50 was trading 0.36% higher at 23,959.60.

Motilal Oswal said PhysicsWallah h...