SoftBank-backed food and grocery delivery firm Swiggy's shares gained 5.6 per cent in the morning session on Tuesday, reaching an intraday high of ₹567.8 per share on the BSE. However, the stock closed 1.13 per cent higher at ₹543.55 per share. In comparison, the S&P BSE Sensex finished flat at 81,510.05.
The surge in Swiggy's stock came after global brokerage CLSA initiated coverage on the company with an 'outperform' rating and set a 12-month price target of ₹708 per share. This represents a 31.7 per cent upside from the previous close of ₹537.5 per share on the BSE.
According to the brokerage, Swiggy is one of India's most innovative companies and an early mover in both food delivery and quick commerce in the country.
هذه القصة مأخوذة من طبعة December 11, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 11, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
TCS Q3 Net Profit Jumps 12%, Misses Estimates
IT behemoth's revenue swells 5.6%; North America remains a drag
Cope with volatility, benefit from rate cuts
Volatility in the capital markets continues to pose a challenge to equity investors.
Weak 02C biz may drag earnings for RIL again
Company's Ebitda may remain flat or decline marginally, say analysts
Arpu gains, dividend likely to be triggers for Bharti Airtel
The telecom industry may be moving into a new phase.
Adani Group to Raise ₹7,148 Cr From Stake Sale in Wilmar JV
The Adani group will raise ₹7,148 crore from sale of up to 20 per cent stake in FMCG firm Adani Wilmar in the open market as part of its strategy to exit non-core activities to focus on infrastructure business.
₹ ends flat after intraday low of 85.94 against $
The rupee on Thursday slipped to 85.94 against the dollar intraday, a fresh low, before recovering some losses to close the day at 85.86, flat compared to Wednesday's closing.
Sensex, Nifty decline amid FPI selling, Q3 earnings concerns
Indian equity benchmarks declined on Thursday as heavy foreign portfolio investor (FPI) selling and concerns over the December quarter earnings continued to dent sentiment.
MFs Cap Strong 2024 With Robust Dec
Equity mutual funds (MF) capped a strong 2024 with near-fresh-high inflows in December.
Fundraising via equity, debt touched fresh high in 2024
Fundraising by Indian corporates through equity and debt reached a fresh high in the calendar year 2024, according to primedatabase.com.
A milestone': Modi unveils genome data of 10K Indians
Prime Minister Narendra Modi on Thursday announced the completion of the Genome India Project, describing it as an \"important milestone in the biotechnology revolution\" in the country, and unveiled the sequencing database of 10,000 Indians.
