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Swiggy's stock surges 5% as quick commerce gets investors excited
Swiggy's stock climbed nearly 5% to ₹412 on Tuesday, riding a wave of excitement in the quick commerce space.
The buzz started after Eternal's shares hit an all-time high, thanks to Blinkit's standout Q1 results—Blinkit even beat Zomato in Net Order Value, which has investors feeling extra optimistic about the whole sector.
Swiggy's rally bolstered by Blinkit's growth and Jefferies's upgrade
Blinkit's rapid growth led Jefferies to upgrade Eternal to "Buy," highlighting its underestimated potential.
This positive energy is spilling over to Swiggy too, with technical signals like a healthy RSI and strong moving averages pointing toward more gains ahead.
All in all, quick commerce is having a moment—and Swiggy is right at the center of it.