Swiggy Shares Jump as Jefferies Bets Big on Growth; ₹435 Target Implies 60% Upside

Swiggy shares climbed as much as 5% in intraday trade after global brokerage Jefferies reiterated its bullish view on the stock and set a ₹435 target price, implying nearly 60% upside from the previous close. The brokerage’s optimism is driven by expectations of improving economics in Swiggy’s quick-commerce arm Instamart, with its contribution margins seen improving by around 80 basis points. Jefferies believes the company’s transition towards an Indian-owned and controlled company structure could further support operational efficiency and profitability. The positive brokerage outlook triggered renewed investor interest in Swiggy, putting the stock firmly in focus during Thursday’s trading session.