India, Feb. 3 -- Shares of the foodtech major Swiggy have soared above 5% at INR 458.50 apiece on the BSE intraday trading session today (February 3).

This comes after brokerage Kotak Institutional Equities initiated a 'buy' rating on the company's stock and suggested a fair value (FV) of INR 500.

As of 01:49 PM, the company's shares were up more than 3.8% at INR 452 apiece on the BSE, compared to its last close of INR 435.30 per share, on Saturday (February 1).

The market capitalisation of the company currently stands at INR 1,01,177.82 Cr ($11.6 Bn).

The FV initiated by the brokerage indicates an upside of 14.8% from the previous session's closing price.

(The story will be updated soon.)

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