Swiggy Share Price Update: The stock of online food delivery and quiz commerce company Swiggy may see a strong rise in the coming days. Swiggy's stock may cross Rs 500. Foreign brokerage house UBS has issued a coverage report on this foodtech company and advised investors to buy the company's stock. According to UBS, Swiggy's stock is trading at a 35-40 percent cheaper valuation than Zomato's stock. 

Swiggy's share is cheaper than Zomato! 

UBS said in its coverage report on Swiggy's stock, Swiggy's stock can cross the level of Rs 500 and go up to Rs 515 in the next 12 months. That is, the stock can gain 20 percent from the current level. On Monday 25 November 2024, Swiggy's stock closed at around Rs 430. UBS said in its report, after adjusting Swiggy's lower scale compared to Zomato, we believe that Swiggy's stock is trading at a discount of 35-40 percent to Zomato and this valuation discount is expected to reduce with Swiggy's market share stabilizing. Due to which the global brokerage house has advised investors to buy Swiggy's stock. According to UBS, there is immense potential for Swiggy's stock to rise. Swiggy is going to benefit fully from the rapid growth of food delivery and quick commerce market in India.  

5 brokerage houses issued coverage report 

Swiggy got listed on the stock exchange after launching the IPO on 13 November 2024 and it has been only two weeks since the listing and so far five domestic and foreign brokerage houses have released their coverage report on the stock. First of all, JM Financial advised to buy the stock and said that Swiggy's share can go up to Rs 470. Another global brokerage house Macquarie also said in its report on Swiggy that the stock can go up to Rs 700 in the long term. However, HDFC Securities has also given a target of only Rs 430 while advising to add the stock to the portfolio. 

Motilal Oswal Financial Services has also released a report on Swiggy. The brokerage house has given a target of Rs 475 for Swiggy's shares, although its stance is neutral towards the stock. The brokerage house, in its report, said that Swiggy Instamart first entered the quick commerce space but Blinkit has gone far ahead of it and Zepto is also doing better.