Swiggy shares rally 5% as Kotak initiates coverage with buy rating, foresees 9% upside

Shares of Swiggy climbed as much as 5.3% on Monday to Rs 458.5 on the BSE after brokerage Kotak Institutional Securities initiated coverage on the food delivery giant with a “buy” rating, citing robust growth prospects in both its core food delivery business and quick commerce segment. The…