Swiggy shares down 50% in one year amid brokerage upgrade and technical caution

Swiggy shares traded around ₹234.05, remaining roughly 49% below their 52-week high of ₹460 and down 50% over the past year.

Anand Rathi recently upgraded Swiggy to Buy with a target price of ₹310, citing improving core food delivery profitability and contribution break-even in quick commerce.

Technical analyst Jigar S Patel advised caution, noting weak moving averages and recommending a watch on the ₹225-240 support zone before a breakout above ₹255.