Jefferies sees 59% upside in this quick commerce stock under Rs 500

Ever ordered dinner at midnight without a second thought? Chances are the app you used is now catching the eye of a global brokerage house. Jefferies has turned bullish on the stock, setting a target price of Rs 435 and a ‘Buy’ tag. This implies as much as 59% upside from current levels.

The company in focus here is Swiggy, the food delivery and quick-commerce platform millions of Indians use almost on autopilot. According to the brokerage report, the key focus is ownership structure, foreign investment rules, and a business model shift that could reshape the company’s margins.