Down upto 42% from record high, analysts say stock up Zomato, Swiggy shares

After a massive selloff in shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts.

Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have “over-baked” concerns about the two companies.

While operational challenges may persist for the next one to two quarters, analysts argue that the transitory nature of these concerns makes the stocks a compelling “buy” at current levels from a long-term perspective.