Motilal Oswal gives Swiggy 'neutral' rating, target price of ₹475

Motilal Oswal initiated coverage on Swiggy with a 'neutral' rating and set a target price of ₹475, suggesting an upside of 15% from Tuesday's closing price. It called Swiggy a key player in "battle royale" of India's quick commerce. "It may not...emerge as the number one player, but we expect it to be [among] the top three players," it added.