Swiggy may rebound to Rs 190, but charts do not signal a trend reversal: LKP’s Vatsal Bhuva
LKP Securities rate stocks including Swiggy, HDFC Bank and Apollo Hospitals.
· Economic Times Markets
LKP Securities’ Vatsal Bhuva sees continued downside risks for Nifty and Bank Nifty, while identifying potential rebounds in Swiggy and HDFC Bank. He also recommends Oriental Hotels and Apollo Hospitals, citing improving technical indicators and favourable chart setups.
The analysis
Where the names start from: Apollo Hospitals is 7% below its 52-week high, -6.0% over three months; HDFC Bank is 31% below its 52-week high, -8.1% over three months; Swiggy is 58% below its 52-week high, -40.3% over three months. A rating is set against the price on the day the note is written, so how far a stock has already run is the part of the case the headline upside leaves out.
Market context
- Brokerage calls from LKP Securities, with ratings on the stocks named. The stocks: Swiggy, HDFC Bank and Apollo Hospitals.
- On the day, 2 of 3 are higher: Apollo Hospitals leads at +3.0% and Swiggy trails at -4.7%.
- Over three months: Swiggy -40.3% against Hotels & Restaurants -0.9% (39.4 points behind); HDFC Bank -8.1% against Banks -6.0% (2.1 points behind); Apollo Hospitals -6.0% against Pharma & Healthcare -0.9% (5.1 points behind).
- At least 25% below the 52-week high: Swiggy (58%) and HDFC Bank (31%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| SwiggySWIGGY · Hotels & Restaurants | ₹176.60 | -4.7% | -29.4% | -40.3% | -57.7% | 1.5× | — |
| HDFC BankHDFCBANK · Banks | ₹692.80 | +1.4% | -2.2% | -8.1% | -31.4% | 0.7× | — |
| Apollo HospitalsAPOLLOHOSP · Pharma & Healthcare | ₹8,448.00 | +3.0% | +3.5% | -6.0% | -6.8% | 0.6× | — |
Hotels & Restaurants
1M -3.1% · 3M -0.9%
Swiggy
Banks
1M -3.4% · 3M -6.0%
HDFC Bank
Pharma & Healthcare
1M -0.6% · 3M -0.9%
Apollo Hospitals
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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