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Swiggy Gets 'Buy' As ICICI Securities Initiates Coverage, Sees 46% Upside — Here's Why
Swiggy offers a more reasonable valuation for each business segment compared to Zomato, says ICICI Securities.
10 Jan 2025, 12:02 PM IST 
Alongside, Swiggy has demonstrated its execution prowess with ‘Swiggy Bolt’, a 10-minute food delivery offering, and ‘Swiggy BLCK’, a premium loyalty offering:brokerage.
(Photo_ Vivek Amare _ Source_ NDTV Profit) 13_11_2024.
The brokerage sees the Swiggy’s stock trading at Rs 850 in bull-case scenario and Rs 415 in our bear-case, implying a risk reward skew of 3.8:1 to the upside.
