BofA downgrades Zomato and Swiggy, cites slowing growth, high competition
Follow Us on Google News Mumbai, March 26 (IANS) Bank of America (BofA) has downgraded its ratings on Zomato and Swiggy, citing concerns over slowing growth in food delivery and rising competition in quick commerce. The brokerage has lowered Zomato’s rating from ‘buy’ to ‘neutral’ and Swiggy’s from ‘buy’ to ‘underperform’. Along with the downgrade, … Read more