Swiggy shares skyrocket 15% to fresh peak after Axis Capital initiates coverage
Axis Capital’s target price suggests a 20% upside for Swiggy, reflecting strong investor confidence in its future.
Axis Capital sees strong growth potential for Swiggy, driven by underpenetrated food delivery and Q-com sectors in India.
Swiggy’s Q-com expansion and cost control focus are set to boost its gross order value (GOV) and overall growth.
Axis Capital believes Swiggy’s leadership and innovation will help it stay competitive amid rising market competition.
A block deal of 11.1 lakh Swiggy shares signals increased investor interest, though parties remain undisclosed.
Swiggy’s shares listed in November at Rs 420 (NSE) and Rs 412 (BSE), rising 30% on NSE and 32% on BSE, showing strong market confidence.
Swiggy’s stock closed at Rs 594.80, up 11.7%, supported by strong technical indicators and trading above key moving averages.