Nomura Starts Coverage On Swiggy, Hikes Eternal's Target, Says Food Delivery 'Real Cash Generator'
Published on: Sept. 8, 2025, 8:25 a.m. | Source: NDTV Profit
Nomura initiated coverage on Swiggy Ltd. and hiked its target price for Zomato's parent Eternal Ltd. The brokerage sees the food delivery business as the real cash generator for the companies because of duopoly. Nomura has rated Swiggy a 'buy' and has a target of Rs 550, which implies a 25% upside from Friday's close. The brokerage has a 'buy' rating on Eternal as well and raised the target price to Rs 370 apiece from Rs 300.
