Swiggy gains up to 15% after decent listing: Here's what brokerages and analysts advise
After decent listing gains, Swiggy shares are riding higher. At around the time of writing the copy after debuting at Rs 420 per share with as much as 8 per cent gains, the stock price has strengthened to Rs 447 per share on the NSE at the day's high, while trading at Rs 444.35 apiece.
Long term prospects reflected in a better-than-expected performance
Shivani Nyati, Head of Wealth at Swastika Investmart said the better-than-expected listing amid initial bleak response reflects a degree of optimism about Swiggy's long-term growth prospects, driven by its strong brand recognition, extensive network, and dominant position in the food delivery market.
However, the company's continued losses and the challenging market conditions may temper investor enthusiasm in the long term, it added
Advises shareholders to stay put in the stock
The expert advices to hold the scrip with a stop at around the issue price.
JM Financial initiates coverage with a buy
Giving its buy call the brokerage said the innovation is rewarded and execution is worshipped.
The brokerage on the stock gave a Rs 470 per share, implying a run-up of 21 per cent from the issue price by March 2026. We use the multiples-based SOTP method to value Swiggy in which each of its reported segments is
valued basis either EBITDA, GOV or Sales multiples. These multiples are 10-50 per cent lower than those used to value Zomato’s segments due to differences in scale and profitability.
Despite this discount, our Mar’26 TP for Swiggy works out to INR 470, indicating ~21% upside, added the brokerage.
Mcap hits Rs 1 lakh crore on decent gains
On decent gains of up to 15 per cent, the m-cap of the stock scaled up to Rs 1 lakh crore and last was at Rs 99,834.75 crore.
Swiggy or Zomato
While on an absolute basis Swiggy offers decent upside, JM Financial said it would prefer Zomato if asked to pick only one due to its superior execution in the past and market leadership across key segments.
"We, however, suggest that investors play both (preferably with higher weightage for Zomato), as in any case both are likely to be amongst the fastest growing consumption names and could, therefore, outperform the broader market returns.