HSBC Downgrades Swiggy and Zomato, Questions Blinkit's Market Share
ByAinvest
Wednesday, Mar 25, 2026 12:45 am ET1min read
HSBC--
HSBC has downgraded Zomato and Swiggy's target prices, citing intensified competition in India's quick commerce sector. Despite recent platform fee hikes, both stocks gained 3% on Wednesday. Motilal Oswal maintains "Buy" ratings on both stocks, citing attractive valuations and improved growth rates.
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