Swiggy’s stock rose 3% following CLSA’s initiation of a Buy call with a target price of ₹708 per share. CLSA emphasized Swiggy’s strong early-mover advantage and its large total addressable market (TAM), with the Indian quick commerce market expected to grow sixfold by FY27.
While Swiggy lags behind Zomato in market share, CLSA believes its current valuation accounts for this gap. The brokerage praised Swiggy’s enhanced execution, leading to accelerated growth and improved profitability. CLSA sees Swiggy’s diversified offerings, especially Instamart, as key drivers of future revenue and market share expansion in the fast-growing quick commerce segment.
Swiggy shares opened at ₹560.00 and reached a high of ₹567.90, while the low stood at ₹551.35. The 52-week high for Swiggy is ₹576.70, with a 52-week low of ₹391.00.
As of 9:41 am, Swiggy shares were trading 3.17% higher at Rs 553.85 on the NSE.
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