Shares of Swiggy rose 25% from its issue price to Rs 489.40 on Day 2 of the stock market debut. The stock made a positive debut on the bourses, listing at a premium of 7.7% on the National Stock Exchange. However, it did get a lot of investor attention after the initial subdued response and the stock closed day 1’s trade with a 17% jump.
With the current surge, the Swiggy market cap now stands at Rs 1 lakh crore.
Swiggy stock rally: Analysts see long-term value
JMFL initiates Coverage with a Buy rating as it considers the stock as one of the fastest growing consumption plays, ” We initiate on Swiggy with a ‘Buy’ rating and SOTP-based Mar’26 target price of Rs 470. Swiggy has played a pivotal role in the rapid expansion of India’s hyper-local on-demand market. It pioneered the full-stack food delivery model in 2014 and later in the midst of a pandemic introduced the dark store-led quick commerce (QC) model. Even today, it continues to be one of the leading hyperlocal delivery platforms in the country, bettered only by Zomato (BUY, TP of Rs 300). Despite having ceded some space to competition, it is one of the fastest growing consumption plays with multiple levers to move towards sustainable margins.”
Also Read Asian Paints Share Price Today Highlights, 11 Nov, 2024: Asian Paints closes 8% lower on sharp decline in Q2 net profit Tata Motors Share Price Today Highlights, 11 Nov, 2024: Tata Motors closes flat after reporting fall in Q2 numbers Lupin Share Price Today Highlights, 08 Nov, 2024: Lupin ends 0.7% lower on strong Q2 numbers Apollo Hospitals shares hit all-time highs as net profit shoots up 63%; is it worth chasing the rally?
Bajaj Broking added, “Swiggy’s listing on the Indian stock market has stirred up notable excitement, but early trading volatility reveals investor caution. While there’s optimism about Swiggy’s potential to capture further market share in India’s Android-evolving food delivery and quick commerce segments, the road to profitability may be bumpy. Swiggy has shown impressive growth potential, yet persistent losses over recent fiscal years signal challenges ahead. Investors may need to brace for a dynamic journey as the company seeks to balance expansion with sustainable financial performance.”
Also ReadSwiggy shares close up 17 per cent, » Read More
