Overview

• Swiggy’s shares surged over 7% to INR 357.55 on the BSE, marking the highest level since early May.
• Morgan Stanley initiated coverage with an overweight rating and forecast EBITDA breakeven by fiscal 2028.
• In Q4 FY25, operating revenue climbed 45% year-on-year to INR 4,410 crore while net losses widened 95% to INR 1,081 crore amid Instamart expansion.
• The brokerage projects Swiggy’s food delivery business to grow at a 15.8% CAGR from FY25-28 and estimates the Indian quick-commerce market will reach US$57 billion by 2030.
• Following the rally, Swiggy’s market capitalization hit INR 88,836 crore and 15 of 21 analysts covering the stock maintain buy ratings.