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The stock traded at a P/E multiple of 15.87, while the price-to-book value ratio stood at 1.70.

A complete Trump victory is viewed as positive for global equity markets, especially for India, with expectations of a favourable corporate tax environment and reduced regulatory burdens.

Swiggy needs to prove its common fleet and consumer base will improve unit economics. The company is behind Zomato in profitability. Competition is increasing in the food delivery market. Quick commerce is expected to do well in the coming years. It is unclear how well quick commerce will perform in smaller cities.

As of 30-Sep-2024, promoters held 62.66 per cent stake in the company, while FIIs held 24.18 per cent and domestic institutional investors had 2.63 per cent.

The stock quoted a 52-week high price of Rs 298.20 and low of Rs 112.50.

Chinese stocks were mixed on Wednesday as investors awaited the results of the U.S. election. The prospect of a Trump victory, with his threats of tariffs on Chinese goods, weighed on sentiment. However, hopes for more stimulus from Beijing provided some support.

​Markets are reacting and we are seeing the Trump trade. Dollar has risen to its highest level since July. Bitcoin is up 8% taking its rise for the year to 80%. We are seeing US markets performed very well yesterday, nearly 1.5% up across the board.

Promoters held 51.89 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 17.25 per cent and 11.92 per cent, respectively.

Indian stock market expert Hemang Jani believes the current market correction presents a good opportunity for investors to buy stocks. He suggests focusing on sectors like banking, defense, pharmaceuticals, and telecoms, where companies have reported strong financial performance. Jani also sees potential in the upcoming Swiggy IPO, citing attractive valuations and growth in the food delivery and quick commerce sectors.

A total of 1,028,789 shares changed hands on the counter till 12:00PM (IST)