Zomato set for index inflow as Swiggy soars post IPO

Food-delivery firm Zomato is set to receive a $500 million inflow from index funds as it joins the BSE Sensex starting next week, according to Nuvama. With the stock having doubled since February, traders are now turning their attention to Swiggy.

While Zomato leads when it comes to cash flows, its money-losing rival appears to be scoring higher where sentiment is concerned. This partly explains the 53% surge in Swiggy’s share price since its listing last month — a remarkable comeback by a stock that was expected to struggle on debut.