Since its opening on November 13, 2020, Swiggy's share price has increased by more than 12% from its IPO price of INR 412. As of November 27, shares rose by 8%

Shares of food delivery giant, Swiggy Limited, soared over 6 per cent to Rs 456 in morning trade on November 27, 2024. At the time of this report, the Swiggy stock had risen 6.2 per cent to Rs 458, bringing the company’s market capitalization to Rs 1 lakh crore or 10.

Shares of newly-listed Swiggy climbed as much as 8.1% on Wednesday to Rs 499 on BSE, with the stock surging nearly 16% in the past two sessions after UBS became the latest brokerage to initiate coverage on the food delivery major with a “Buy” rating,

UBS believes Swiggy is well positioned to benefit from the rapid growth in India's food delivery and quick commerce markets with an estimated GMV and revenue CAGR of 35% and 29% over FY24-27e.

Will Swiggy Deliver Better Returns? The brokerage said that Swiggy is well-positioned for growth, currently trading at a 35% discount to Zomato

The risk-reward for the stock is attractive as it is valued at an estimated Enterprise Value (EV) to Revenue of 6.2 times, as against 9 times for Zomato, said the brokerage.