Swiggy's shares rose 5.6% after CLSA gave it a "buy" rating, despite a "neutral" view from Motilal Oswal.
Swiggy's shares rose 5.6% to Rs 567.80 after CLSA gave it a "buy" rating with a target price of Rs 708, predicting a 32% upside. CLSA highlighted Swiggy's large market potential in food delivery and quick commerce, expecting sector growth. Swiggy reported a 30% revenue increase to Rs 3,601.5 crore and a narrowed net loss of Rs 625 crore in the September quarter. Despite optimism, Motilal Oswal maintained a "neutral" rating, noting competitive risks.
3 months ago
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