Swiggy shares surge 8% as Nirmal Bang initiates coverage with ‘Buy’, sees over 26% upside potential

Swiggy shares surged nearly 8% after Nirmal Bang initiated coverage with a 'Buy' rating and a target price of ₹500. The brokerage anticipates significant growth in the Indian food delivery market, projecting a CAGR of 17-22% from 2023 to 2028.

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