Brokerage house Morgan Stanley is optimistic about Swiggy’s quick commerce business despite widening losses.
Swiggy's quick delivery business, Instamart, saw a significant increase in gross order value but also reported an increased adjusted Ebitda loss.
Morgan Stanley believes Swiggy is prepared to handle competition in the quick commerce segment and protect its market share.
The brokerage raised its estimates for the total addressable market of quick commerce and expects Swiggy to benefit from its investments in infrastructure to drive growth.