Swiggy’s shares rose by 6% today, reaching ₹456 after UBS initiated coverage with a “buy” rating and a 26% upside potential, targeting a price of ₹470.

UBS cited Swiggy’s strong position in the food delivery and quick commerce sectors, supported by robust growth projections. The stock recently debuted positively on the market, with analysts highlighting its duopoly in food delivery and potential in the retail segment via Instamart, despite some initial investor caution.