'The market is not unlimited as many think': Ambit says sell Swiggy in a scathing report

Ambit has issued a scathing SELL call on Swiggy, warning its Rs 10,000-crore fundraising plan could worsen losses in the fiercely competitive quick-commerce market. The brokerage says Instamart is lagging Blinkit in scale and efficiency, the market’s growth potential is capped, and Swiggy may need aggressive spending just to hold its ground, limiting long-term profitability.