Swiggy’s stock surged over 2% in morning trade following Axis Capital’s ‘Buy’ rating with a target price of ₹640. The firm believes Swiggy presents a compelling investment opportunity, despite trailing Zomato.
Analysts highlight the company’s strong growth potential in the underpenetrated food delivery and quick commerce sectors, driven by rising urban demand.
Swiggy’s expansion plans, particularly in quick commerce, are expected to boost revenue, while cost-control measures and improved governance should enhance profitability. With a focus on innovation and a strengthened leadership team, Swiggy is positioned to lead in India’s rapidly growing food delivery and quick commerce markets, making it a strong contender for long-term growth.
Swiggy shares opened at ₹538.00 today, with a high of ₹547.40 and a low of ₹533.00. The stock has reached a 52-week high of ₹576.70 and a low of ₹391.00.
As of 9:39 am, Swiggy shares were trading 2.38% higher at Rs 545.00 on the NSE.
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