Swiggy shares jump over 5% on expanding 10-minute food delivery service to 400 cities

Swiggy's shares rose 10% after its muted debut on the exchanges. Several brokerages, including UBS, have initiated coverage, with a Buy rating and a target price of Rs 515. UBS highlights Swiggy’s growth potential, driven by its improving margins, scale, and evolving business model focused on online food delivery and quick commerce, positioning it for long-term success.