Zomato may be ahead in the food delivery and quick commerce race, but its high valuation could give Swiggy the perfect chance to steal the spotlight and outshine with its stock performance.

Debate intensifies over whether Swiggy or Zomato offers better investment in India's booming food delivery market.

Shares of the food and quick-commerce platform got listed at a premium of 7.69 per cent at Rs 420 as against their issue price of Rs 390. The stock eventually climbed 15.13 per cent to touch a day-high value of Rs 449.

Key catalysts, according to them include improvement in Instamart profitability, acceleration in platform Monthly Transacting User (MTU) additions, and reversal of market share losses