Swiggy shares surge over 25% from issue price, market cap exceeds ₹1 lakh crore

Swiggy shares rose 7.3% to ₹489.25 on the BSE, pushing its market cap above ₹1 lakh crore. This follows a strong debut on November 13, where shares closed 17% above the issue price of ₹390. The stock was listed at ₹412 on the BSE and ₹420 on the NSE, both above the issue price. Brokerages have begun coverage, with HDFC Securities giving an 'Add' rating and a target price of ₹430, while JM Financial recommends a 'Buy' with a target of ₹470. Despite initial gains, Swiggy shares were trading slightly lower at ₹455.40 later in the day. Analysts noted strong demand for the stock, reflecting investor interest in the food delivery sector.