Largecaps outperformed the broader Nifty 500 in Q2FY25, with overall earnings declining by 1% due to a consumption slowdown and global volatility, particularly in the oil and gas sector. Financials and IT showed resilience with 14% and 11% growth, respectively, while cement and oil & gas faced significant declines of 56% and 52%. Excluding sectors tied to global commodities, aggregate earnings grew by 10.3%.
Swiggy has received a Neutral rating from Motilal Oswal, which initiated coverage with a target price of Rs 475 per share. The firm noted that Swiggy"s food delivery business has achieved stable unit economics, with expectations for gradual margin improvement. Motilal Oswal highlighted Swiggy"s all-in-one app strategy as a key factor for operational efficiency and cross-utilization across services, positioning it as a strong contender in the competitive food delivery and quick commerce market, currently dominated by Zomato.
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