In today’s briefing:
- Swiggy/Eternal: Free Float Increase & Foreign Room Decrease ‘Delivering’ BIG Passive Flows
Swiggy/Eternal: Free Float Increase & Foreign Room Decrease ‘Delivering’ BIG Passive Flows
- Increased free float should result in passives buying Swiggy (SWIGGY IN) and lower foreign room should lead to passives selling Eternal (ETERNAL IN) at the end of August.
- The increased free float should also result in passive buying for Swiggy (SWIGGY IN) in September.
- Eternal has outperformed Swiggy last week following strong earnings. Swiggy announces earnings later this week and that could be a short-term catalyst for a narrowing of the spread.
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