Reportedly shares of swiggy, a door-to-door food delivery company, are ready to run up. There is a good opportunity for investors to earn in this. Recently listed swiggy shares saw a jump of four percent on monday morning. At the same time, swiggy shares saw a rise even today. Now, international brokerage house CLSA has expressed hope that swiggy shares can climb up to 32 percent.
Perhaps CLSA has expressed hope of a significant increase in the shares of this company, which delivers food as well as grocery items. The brokerage firm has issued an outer perform call of Rs 708 for investors with the expectation of a huge rise of 32 percent. This means that investors are advised that investing in swiggy shares is a profitable deal to earn.
Moreover despite the possibility of a jump in Swiggy's shares, it tends to lag behind zomato, the number one company in the food service delivery sector. Regarding this, CLSA believes that this difference is due to the difference in Swiggy's valuation and price. This brokerage house hopes that quick commerce i.e. fast delivery in india can grow up to 6 times in the next three years. swiggy will benefit the most from this. Let us tell you, on monday morning, Swiggy's shares were at Rs 553 65 paise. Which was 3.13 percent higher than the closing price of the previous session. Brokerage firms say that swiggy is ready to compete with its biggest rival zomato in the stock market. Swiggy's income has increased by 30 percent in the July-September quarter. In the same period last year, it was Rs 2763 crore 30 lakh. Which has increased to Rs 3601 crore 50 lakh this year.
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