India, June 4 -- Update | June 04, 04:30 PM

Shares of Swiggy surged over 9% to INR 365 during the intraday trading session on the BSE today following Morgan Stanley's initiation of coverage with an 'overweight' rating.

The stock closed the trading session 8.73% up at INR 362.50 on the BSE today with its market capitalisation soaring to INR 90,394.70 Cr.

Till the close of market session today, more than 5.26 Cr shares traded hands.

The spike in Swiggy's share price today also coincided with a surge in the benchmark indices. While NSE Nifty closed the trading session today 0.32% up at 24,620.20, BSE Sensex was also 0.32% up at 80,998.25 during the close.

Morgan Stanley raised the price target for Swiggy's stock by 21.5% from its previo...