Brokerage Radar: HSBC Initiates Coverage on Swiggy with 'Hold'; Nuvama Backs Zen Tech with 'Buy'

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Mumbai: In the latest developments from the stock market, HSBC has initiated coverage on Swiggy, one of India's largest food delivery platforms, with a 'Hold' rating. The global brokerage firm highlighted Swiggy's strong market position and potential for growth but cautioned about the ongoing challenges in the competitive food delivery space and the company's profitability outlook.




HSBC's analysis comes as Swiggy continues to expand its offerings beyond food delivery, including ventures in grocery and quick commerce. However, HSBC emphasized that while the growth trajectory is promising, Swiggy's path to profitability remains uncertain in the near term.

On the other hand, Nuvama has expressed a more optimistic outlook on Zen Tech, a leading player in the tech solutions space. Nuvama has given the stock a 'Buy' rating, citing the company's strong fundamentals, robust growth prospects, and solid execution of its business model. The brokerage firm believes that Zen Tech's innovation and market expansion plans will drive significant long-term value for shareholders.

The contrasting views on Swiggy and Zen Tech reflect the varied perspectives among analysts regarding the potential of India's dynamic tech and food sectors. As both companies navigate their respective challenges and opportunities, investors are closely monitoring these recommendations for guidance on their next moves in the market.

Stay tuned for further updates as analysts continue to assess the outlook for these companies in the coming quarters.

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