Macquarie initiates an ‘Underperform’ rating on Swiggy, giving it a target price of Rs 325. They believe that while Swiggy has growth potential, profitability remains a challenge, particularly in the quick commerce segment. Swiggy’s IPO, meanwhile, saw a decent subscription rate and is set to debut on the stock exchange.
US stocks: S&P closes at record high as soft jobs report eases rate-hike concerns
The US stock market enjoyed a significant boost on Friday as the S&P closed at an all-time high. The unexpected rise in job losses led