Swiggy share price, Oct. 19 -- Brokerage firm Anand Rathi has upgraded the quick food delivery stock Swiggy to 'buy', while keeping target price unchanged at Rs.310. This valuation is based on 30 times the estimated adjusted EBITDA for FY28, after accounting for financial obligations, and reflects a valuation discount of around 15% compared with Zomato.

The brokerage firm further said that Swiggy is moving away from a business model where it had to sacrifice profitability to achieve faster growth. Over the past four quarters, the company has focused more on improving its contribution margin (CM) rather than pursuing growth at any cost. As a result, its contribution margin improved from a loss of around 5.6% in Q4FY25 to breaking even in ...