Macquarie rates Swiggy shares 'underperform', JM Financial 'buy'

Global brokerage Macquarie gave 'underperform' rating to shares of Swiggy on its market debut day. Macquarie kept a price target of ₹325 per share, implying a potential downside of around 17% from IPO price. JM Financial however issued a 'buy' rating for the stock. It kept a price target of ₹470, suggesting a potential upside of 20% from IPO price.