Swiggy rises 5% after CLSA initiates coverage, sets target at Rs 708 apiece

Swiggy shares gained 5.6 per cent in the morning deals on Tuesday and clocked an intraday high at Rs 567.8 per share on BSE. The counter saw buying after global brokerage CLSA as per Bloomberg, initiated coverage on Swiggy with an ‘Outperform’ rating and set a 12-month price target at Rs 708 per share. This implies a 31.7 per cent upside from the previous close of Rs 537.5 per share on BSE.