4/3/2025, 2:13:05 pm

Zomato, Swiggy shares can jump up to 127%, says ICICI Securities

ICICI Securities predicts Swiggy's share price could more than double to ₹740, a 127% upside, and Zomato's could rise 40% to ₹310. Both stocks saw gains Tuesday, with Swiggy up 7.72% and Zomato up 3.42%. The report highlights undervaluation amid cash burn concerns, noting food delivery's profitability and quick commerce's long-term potential.