Swiggy shares rally another 8% as brokerages back growth potential
Swiggy climbed as much as 8.1% on Wednesday to Rs 499 on BSE, with the stock surging nearly 16% in the past two sessions after UBS became the latest brokerage to initiate coverage on the food delivery major with a “Buy” rating, highlighting Swiggy's promising growth in India's food delivery and quick commerce markets.
Brokerage firms — HDFC Securities, Motilal Oswal and JM Financial — were the first ones to initiate coverage on Swiggy with particularly bullish views.
Swiggy made its Dalal Street debut on November 11, with the stock hitting a record high of Rs 489.25 on November 14.
UBS
Brokerage UBS initiated coverage on the leading food delivery player on Monday with a “Buy” rating and a target price of Rs 515, citing potential for growth amid India’s expanding online food delivery and quick commerce markets.
Stock Trading
Stock Valuation Made Easy
By — Rounak Gouti, Investment commentary writer, Experience in equity research
Stock Trading
Futures Trading Made Easy: Future & Options Trading Course
By — Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Derivative Analytics Made Easy
By — Vivek Bajaj, Co Founder- Stockedge and Elearnmarkets
Stock Trading
Dow Theory Made Easy
By — Vishal Mehta, Independent Systematic Trader
Stock Trading
Ichimoku Trading Unlocked: Expert Analysis and Strategy
By — Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert
S
