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News Topical, Digital Desk : As the results are being released, brokerage firms and analysts are also reviewing and providing advice on company performance and stock valuations. Several stock investment advisories were issued at the end of October, including NTPC, Transport Corporation of India, LIC Housing Finance, Mahanagar Gas, Adani Power, and Navin Fluorine. One is recommended as a hold and the rest are recommended as an investment, with returns ranging from 14 to 30 percent. However, ICICI Securities expects much higher returns for Swiggy. According to the brokerage firm, the stock could deliver a bumper return of 80 percent to its investors.
What's the report on Swiggy?
The stock is currently trading at 410, meaning the stock has the potential to gain over 80% from here. The report stated that the second quarter results provided several indicators, including growth in gross order value and adjusted revenue in the food delivery business, indicating the company's market share growth despite increased competition. The increase in GOV in Quick Commerce (QC) businesses, such as Instamart, reflects an increase in both the number of orders and average order value (AOV). Daily orders per store increased by 4.1%, indicating improved store efficiency. Overall, the company's Quick Commerce unit is performing well, and this will boost investor confidence. ICICI Direct has issued a buy recommendation on NTPC with a target of 439, Transport Corporation with a target of 1500, Mahanagar Gas with a target of 1525, and Adani Power with a target of 187. Prabhudas Lilladher has a hold recommendation on LIC Housing Finance.
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