Swiggy | Business Upturn

Swiggy clarifies board nomination framework amid domestic ownership plans

Kinjal — Wed, 13 May 2026 15:01:20 +0000

Swiggy has addressed queries from institutional investors regarding its proposed board nomination framework, which is part of a broader plan to become an Indian Owned and Controlled Company (IOCC). The company aims to rationalise legacy nomination rights and ensure management continuity and board-level representation for executing its strategic plan.

The proposed amendment to the Articles of Association is intended to support Swiggy‘s transition to an IOCC, contingent on resident shareholding surpassing 50% and obtaining necessary regulatory and shareholder approvals. The IOCC classification requires control to be vested in resident Indian citizens or eligible Indian entities, supported by a board composition that ensures domestic control.

Swiggy does not have an identifiable promoter group with a substantial stake or board representation that could serve as a structural safeguard for domestic control. Therefore, the company is emphasising the importance of establishing a governance architecture that supports its IOCC ambitions through a domestically controlled board and majority domestic shareholding.

The proposed amendments alone will not classify Swiggy as an IOCC; shareholder approval and other corporate actions are necessary to complete the process. The company has made this disclosure available on its website for public access.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Swiggy reports 45% surge in revenue to Rs 6,383 crore as losses narrow by Rs 281 crore

Yash Agarwal — Fri, 08 May 2026 10:19:53 +0000

Swiggy, India’s leading on-demand convenience platform, has announced a significant 45% increase in overall revenue, reaching ₹6,383 crore for the financial year ending March 31, 2026. The company also reported a reduction in losses by ₹281 crore year-on-year.

The food delivery segment of Swiggy experienced a 22.6% year-on-year growth in Gross Order Value (GOV), achieving a 15-quarter high. The adjusted EBITDA for food delivery rose by 39.8% to ₹297 crore, with a GOV of ₹9,005 crore. Monthly Transacting Users (MTUs) in this segment grew by 21% year-on-year, reaching 18.3 million.

Swiggy’s quick commerce platform, Instamart, also showed strong performance with a 68.8% year-on-year increase in GOV, amounting to ₹7,881 crore. The platform’s contribution margin improved by 65 basis points quarter-on-quarter to -1.8%, while the adjusted EBITDA loss stood at ₹858 crore. Instamart expanded its network by adding seven new darkstores, bringing the total to 1,143 stores across 129 cities.

The Out-of-Home Consumption segment marked its first full year of profitability, with a 43% year-on-year growth in GOV and adjusted EBITDA margins of 0.8% of GOV. Platform MTUs for Swiggy as a whole increased by 27.2% year-on-year to 25.2 million.

Sriharsha Majety, Managing Director and Group CEO of Swiggy, highlighted the strong growth in food delivery and the profitability of the Out-of-Home segment. He emphasised the company’s focus on improving unit economics and contribution margins as it enters the next financial year.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Swiggy reports 22.6% YoY growth in food GOV for Q4 FY26

Arunika Jain — Fri, 08 May 2026 10:16:17 +0000

Swiggy has announced a significant growth in its Food Gross Order Value (GOV), which increased by 22.6% year-on-year to ₹9,005 crore for the fourth quarter of FY26. This marks the highest growth since the demand normalised post-COVID, driven primarily by an increase in order and user volumes.

The company’s platform saw a 27.2% year-on-year growth in average monthly transacting users, reaching 25.2 million. Consolidated adjusted revenue also rose by 41.3% year-on-year to ₹6,665 crore. Swiggy‘s B2C adjusted EBITDA margin improved by 181 basis points year-on-year to -3.0%, while consolidated adjusted EBITDA losses reduced to ₹652 crore, an improvement of ₹60 crore quarter-on-quarter.

In the quick commerce segment, Swiggy reported a GOV growth of 68.8% year-on-year to ₹7,881 crore. The average order value grew by 33% year-on-year to ₹700, driven by a sustained non-grocery selection mix and larger basket buying behaviour. The contribution margin improved to -1.8% of GOV, with further improvement to -1.1% in March 2026.

Swiggy’s out-of-home consumption business also showed steady profitability, with the Dineout platform crossing 52,000 average monthly active restaurant partners, a 9% increase quarter-on-quarter. The GOV for this segment grew 43% year-on-year to ₹1,245 crore, with adjusted EBITDA margins expanding to 0.8%.

The company is focusing on affordability as a key driver for growth in food delivery, with initiatives like the 99-Store and Toing marketplace. Swiggy has also been active in social security initiatives, facilitating E-Shram registration for delivery partners, with approximately 100,000 partners registered to date.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Swiggy designates three key managerial personnel for materiality determinations under SEBI rules

Yash Agarwal — Fri, 10 Apr 2026 12:29:47 +0000

Swiggy has formally notified the National Stock Exchange of India and BSE of three key managerial personnel (KMPs) authorised to determine the materiality of events or information and to make disclosures to stock exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The three KMPs designated under the company’s Policy for Determination of Materiality of Events/Information are Sriharsha Majety, Managing Director and Group Chief Executive Officer; Rahul Bothra, Chief Financial Officer; and Cauveri Sriram, Company Secretary and Compliance Officer.

All three officials are based at the company’s registered and corporate office in Bengaluru, located at Sumadhura Capitol Towers, 3rd–6th Floor, Tower 1, in the Pattanduru Agrahara area of KR Puram Hobli, Bengaluru East Taluk. The contact details provided include a telephone number of +080-68422422 and an email address of secretarial@swiggy.in.

The disclosure was made pursuant to Regulation 30(5) of the SEBI LODR Regulations, which mandates that listed companies identify and communicate the personnel responsible for assessing the significance of corporate developments and determining whether information requires immediate disclosure to the market. This ensures transparency and timely communication of material events to investors and market participants.

The notification was submitted on 10 April 2026 by Cauveri Sriram, Company Secretary and Compliance Officer, who signed the intimation letter to both stock exchanges.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Ixigo partners with Swiggy to offer on-train food delivery across 160+ stations

Yash Agarwal — Wed, 08 Apr 2026 05:51:06 +0000

Ixigo Trains and ConfirmTkt, leading AI-based train ticketing platforms in India, have joined forces with Swiggy, the country’s pioneering on-demand convenience platform, to enhance their ‘Food on Train’ service. This collaboration allows travellers to order meals from over 40,000 restaurants across more than 160 railway stations, with real-time tracking and delivery directly to their train berths.

The partnership aims to provide a seamless dining experience for train passengers, enabling them to choose from a wide array of meal options, ranging from popular national brands to local favourites. Travellers can order meals from four days up to 30 minutes before their train arrives at a station, ensuring convenience and flexibility.

Swiggy’s integration into the ixigo and ConfirmTkt apps allows passengers to browse curated menus, complete payments, and track their orders live. The service promises ‘assured delivery or full refund’ for all food orders, enhancing reliability for users.

Sripad Vaidya, COO of ixigo Trains & ConfirmTkt, highlighted the importance of food in the train travel experience, stating, “By partnering with Swiggy, we are combining our deep understanding of train travel with Swiggy’s strong restaurant network and delivery expertise to further strengthen our existing ‘Food on Train’ feature.”

Deepak Maloo, Vice President of Food Strategy at Swiggy, added, “Our partnership with ixigo Trains and ConfirmTkt brings Swiggy’s trusted restaurant network directly to the rail journey, covering 160+ stations. This means the same quality and convenience they expect at home, now follows them on the train.”

The collaboration comes as India’s on-train food delivery ecosystem continues to grow, with an increasing demand for convenient food options during train journeys. Swiggy’s data indicates a shift towards a curated culinary experience on trains, with travellers opting for regional staples and group feasts becoming more common.

By leveraging ixigo’s extensive rail user base and Swiggy’s expansive food delivery network, the partnership is set to offer more variety, better service reliability, and a smoother digital experience for train passengers across India.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Yash Agarwal and reviewed by Aman Shukla before publication.

Swiggy vs Eternal: Motilal Oswal flags quick commerce slowdown but sees upside after sharp correction

Markets Desk — Wed, 25 Mar 2026 02:12:45 +0000

Motilal Oswal Financial Services has maintained its positive stance on internet platform companies Eternal and Swiggy, even as it highlighted a mixed outlook ahead of the March quarter earnings, with strength in food delivery offset by rising pressure in quick commerce.

The brokerage noted that channel checks ahead of the 4QFY26 earnings season indicate a divergent quarter for the two players. The food delivery (FD) segment is expected to remain resilient, with both companies likely to report 18–20% year-on-year growth in gross order value (GOV), supported by a favourable base and limited impact from the recent gas shortage on order volumes so far.

However, the quick commerce (QC) segment is witnessing increasing competitive intensity. Motilal pointed out that aggressive strategies by Zepto — including lower minimum order values and higher discounts — are beginning to weigh on volume growth for both Blinkit (Eternal) and Swiggy Instamart.

As a result, the brokerage has trimmed its near-term growth estimates for both platforms to reflect the slowdown in quick commerce.

Despite these challenges, Motilal Oswal believes that the recent sharp correction in stock prices has made valuations more attractive. Eternal has declined around 32% from its peak, while Swiggy has fallen nearly 50%.

The brokerage maintained its ‘buy’ rating on both stocks, stating that competitive concerns are already priced in. It added that Eternal remains preferred due to its execution track record and Blinkit’s leadership in the category, while Swiggy offers relatively higher upside potential from current levels given its steeper correction.

Even after lowering estimates, Motilal’s revised target prices imply valuations of around 37 times FY28 EV/EBITDA for Blinkit and about 0.4 times FY28 EV/GMV for Swiggy.

Disclaimer: The views and investment tips expressed above are those of the brokerage and do not represent the views of this publication. This article is for informational purposes only and does not constitute investment advice.

Food delivery major Swiggy shares in focus as company hikes platform fees by 17% after rival Zomato

Markets Desk — Tue, 24 Mar 2026 05:49:24 +0000

Swiggy shares in focus today as the company has increased its platform fee, marking another pricing move in the food delivery space.

The company has hiked its platform fee from ₹14.99 to ₹17.58, reflecting an increase of around 17%. The revision comes amid broader efforts by food delivery platforms to improve unit economics and profitability.

The move follows a similar step by rival Zomato earlier this month, which also raised its platform fee, indicating a trend of pricing adjustments across the sector.

On the stock front, Swiggy was trading at ₹271.30, down ₹1.25 or 0.46% during the session. The stock opened at ₹280.95 and touched an intraday high of ₹281.05, while the low stood at ₹268.40. The previous close was ₹272.55.

Trading volumes stood at 39,26,293 shares, with an average traded price of ₹273.89 as of 11:16 AM. The stock remains near its 52-week low of ₹266.95, compared to a 52-week high of ₹474.00.

The increase in platform fees by both Swiggy and Zomato highlights a continued focus on monetisation strategies within the online food delivery segment.

Top stocks for trade today, February 20: ABB India, CIE Auto, RailTel, NTPC Green, Zydus Life, Swiggy and more

Aman Shukla — Fri, 20 Feb 2026 03:25:07 +0000

Indian stock markets are expected to react to several corporate developments on February 20. Companies across sectors including capital goods, auto components, renewable energy, healthcare, banking, rail infrastructure and food delivery have announced key updates.

ABB India: Reported Q4 results in line with estimates; revenue increased across all business segments.
CIE Automotive India: Posted mixed Q4 results; reported double-digit growth in both India and Europe operations.
Insolation Energy: Received NSE in-principle approval for migration to the main board from the SME platform.
RailTel Corporation of India: Secured a Letter of Acceptance (LoA) for a railway signalling project worth ₹36 crore.
Pace Digitek: Bagged an order worth ₹89 crore from RailTel.
NTPC Green Energy: Commissioned the 165 MW Khavda-II Solar Project, adding to its renewable capacity.
Zydus Lifesciences: US FDA inspection of its injectable medical devices unit closed with no observations.
Apollo Pipes: Promoter purchased 5.25 lakh equity shares (1.19% equity) on February 13.
Karur Vysya Bank: Reduced lending rates by 10 bps across tenors.
Fortis Healthcare: IHH revised its claim to prevent Daiichi Sankyo from obstructing share acquisition in the company and Fortis Malar.
Novartis India: Promoter entered into an agreement with ChrysCapital to sell its 70.68% stake in the company.
Swiggy: Announced closure of its food delivery app Snacc after it failed to scale.

Investors are expected to track these developments during today’s trading session.

Swiggy shares fall sharply over 6% as Q3 net loss widens at Rs 1,065 crore

Aman Shukla — Fri, 30 Jan 2026 03:54:07 +0000

Swiggy shares fell sharply in early trade on Friday after the company’s Q3 performance underlined a recurring challenge for fast-scaling digital platforms: balancing aggressive growth with profitability.

Swiggy stock was trading 5.36% lower at ₹310.10 as of 9:21 AM IST, after declining more than 6% intraday, as investors reacted to a wider net loss despite strong year-on-year revenue growth.

Swiggy Q3 results

For the December quarter, Swiggy reported a net loss of ₹1,065 crore, compared with a loss of ₹800 crore in the same period last year.

While losses widened, the topline performance remained strong. Gross User Revenue (GUR) surged 54% YoY to ₹6,148 crore, up from ₹3,993 crore in the corresponding quarter last year.

Despite robust revenue growth, profitability continued to face pressure. EBITDA loss for the quarter widened to ₹782 crore, compared with an EBITDA loss of ₹725 crore a year ago.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Swiggy Q3 Results: Net loss widens at Rs 1,065 crore, revenue (GU) jumps 54% YoY to Rs 6,148 crore

Aman Shukla — Thu, 29 Jan 2026 10:22:26 +0000

Swiggy’s Q3 performance highlights a familiar trade-off between rapid scale-up and profitability pressures. The food delivery and quick commerce major reported a wider net loss even as revenue growth remained robust on a year-on-year basis.

For the quarter, Swiggy posted a net loss of ₹1,065 crore, compared with a loss of ₹800 crore in the same period last year, reflecting continued investments across delivery, quick commerce, and platform expansion.

On the topline, Swiggy delivered strong momentum. Gross User Revenue (GU) rose 54% YoY to ₹6,148 crore, up from ₹3,993 crore in the corresponding quarter last year.

However, profitability remained under pressure. EBITDA loss widened to ₹782 crore, compared with an EBITDA loss of ₹725 crore a year ago.

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

Swiggy, Zomato shares in focus today as Zepto set to file confidential DRHP

Markets Desk — Fri, 26 Dec 2025 03:17:27 +0000

Shares of food delivery and quick-commerce players Swiggy (Eternal) and Zomato are likely to be in focus today after CNBC-TV18 reported that Zepto is set to file its confidential Draft Red Herring Prospectus (DRHP) today, formally kicking off its plan to go public.

According to the report, the quick-commerce startup — backed by several large global and domestic investors — is preparing for one of the most closely watched IPOs in India’s internet space. The development comes at a time when the quick-commerce market has rapidly consolidated into what industry observers describe as a three-horse race between Blinkit (owned by Zomato), Swiggy Instamart and Zepto, with global players like Amazon choosing to stay measured and focus on a broader assortment-led strategy instead.

Zepto’s filing is expected to intensify competitive sentiment in the listed market, where Zomato is now heavily dependent on Blinkit for incremental growth while Swiggy prepares for its own listing. Investors will track disclosures in Zepto’s DRHP to gauge unit economics, city-level profitability, dark-store expansion, and path to breakeven, all of which have become crucial metrics after Blinkit turned contribution-positive.

Market analysts say Zepto’s entry into the public markets could reshape valuation benchmarks across the quick-commerce ecosystem and indirectly influence the way investors price leadership, profitability visibility and long-term cash burn in the sector.

Swiggy and Zomato shares could see heightened activity as traders anticipate competitive commentary and financial comparisons once Zepto’s DRHP details emerge.

CLSA says Blinkit tops downloads while Swiggy outperforms Zomato in December festive weekly activity

Markets Desk — Fri, 26 Dec 2025 02:25:02 +0000

CLSA, in its latest weekly consumer and digital activity update for the week of 15 December, reported sharp movements across quick commerce, food delivery and e-commerce platforms. The brokerage highlighted that Zepto recorded the highest week-on-week increase in weekly active users (WAUs), adding 1.2 million users, ahead of Blinkit and Jiomart, which each gained around 0.4 million WAUs.

Swiggy Instamart and BigBasket added 0.3 million weekly users each, while Blinkit topped download charts for the week with 1.6 million installs, compared to 1 million for Swiggy Instamart and 0.5 million for Zepto.

In food delivery, CLSA noted that Zomato’s WAUs declined marginally, whereas Swiggy saw a meaningful 1.3 million increase, suggesting stronger engagement trends on Swiggy during the week.

Among beauty and personal care platforms, all major players saw slight declines in weekly active users. In broader e-commerce, Flipkart posted a sharp 4.2 million week-on-week drop in WAUs, Meesho remained flat, and Amazon recorded a 2.4 million increase, indicating diverging platform momentum as year-end seasonality sets in.

The brokerage said these weekly indicators offer useful early signals on consumption strength, user engagement and competitive shifts across India’s online ecosystems.

Disclaimer: The views and recommendations above are those of CLSA. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.

Top stocks to watch today, December 10: Tata Power, Hindustan Zinc, IndiGo, Swiggy, Godrej Industries and more

Aman Shukla — Wed, 10 Dec 2025 02:52:09 +0000

Multiple companies announced fresh business updates, investment plans, partnerships and operational milestones that could keep their stocks in focus in today’s market session. Here’s a look at the major developments.

Stocks To Watch Today

Tata Power – Commissions Koteshwar–Rishikesh transmission lines.
Hindustan Zinc – Silver hits all-time high of $61/oz, extending record run.
Godrej Industries – Group to invest over ₹10,000 crore in Telangana.
Anupam – Signs definitive agreement to acquire US-based Jayhawk Fine Chemicals at $134 million EV.
NLC India – Begins operations at Unit 2 (660 MW) of Ghatampur Thermal Power Project.
AU Small Finance Bank – Gets Finance Ministry nod to raise foreign investment limit from 49% to 74%.
IRB Infrastructure – November toll collections rise 16% YoY to ₹716 crore.
Graphite India – Announces exclusive partnership with Kivoro for graphene-based heat transfer additives in India.
Supreme Petrochem – Manali unit in Chennai resumes full operations after rain disruption.
SEPC – JV wins ₹86 crore aviation infrastructure project at Bihta Airport, Patna.
EaseMyTrip – Named official travel partner for India’s debut edition of the World Tennis League.
GPT Infraprojects – Declared L1 bidder for a project worth ₹199 crore.
Highway Infra – Receives Letter of Award for an ₹329 crore project from NHAI.
Dilip Buildcon – Lowest bidder for a 25-year NALCO mining contract; base mining charge ₹423/tonne.
Pine Labs – Launches India’s first agentic bill-payments experience on ChatGPT and Claude.
Zaggle – Signs a 5-year referral agreement with Mastercard.
Vintage Coffee – Signs MoU with Telangana Government to set up a premium freeze-dried coffee plant.
IndiGo – DGCA revises order, now requiring 10% cut in winter schedule (earlier 5%).
JSW Energy – GQG Partners sell nearly 1.5 crore shares (0.87%) at ₹444/share via block deals.
Swiggy – Plans to raise up to ₹10,000 crore via QIP; indicative floor price ₹371/share.

Swiggy, Eternal shares fall nearly 2% as Government announces new labour codes

Aman Shukla — Mon, 24 Nov 2025 03:50:52 +0000

Shares of Swiggy and Eternal dropped by almost 2% after the Union government announced a fresh set of labour codes that place new social-security obligations on digital platforms. The announcement, made on 21 November, introduces a framework that requires food delivery, e-commerce and quick-commerce firms such as Swiggy and Zomato to contribute up to 2% of their annual turnover towards the welfare of gig and platform workers.

According to the Ministry of Labour and Employment, the new reforms are designed to extend retirement savings through provident fund, medical benefits under the Employees’ State Insurance Corporation (ESIC), insurance cover, and other social-security protections to millions of workers who have so far remained outside the traditional labour net. Officials said the move marks a significant shift in how India defines and safeguards the rights of gig and platform workers, a segment that has grown rapidly with the rise of digital services.

The government notified all four labour codes on Friday, bringing them into immediate effect. These codes streamline the country’s existing maze of 29 labour laws and, for the first time, provide clear definitions for terms such as “gig workers,” “platform workers,” and “aggregators.” Industry watchers believe the new rules may temporarily impact margins for digital platforms, which explains the market’s initial reaction, but they also noted that the move could strengthen the workforce ecosystem in the long run by improving retention and worker satisfaction.

As of 9:19 AM, Eternal shares were trading 1.26% lower at Rs 298.15. On the other hand, Swiggy shares were trading 1.84% lower at Rs 378.35.

Top stocks to watch today, November 10: Bajaj Auto, HAL, Swiggy, Nalco, Havells, JSW Cement and more

Aman Shukla — Mon, 10 Nov 2025 02:52:53 +0000

Indian stock markets are expected to see an active session on Monday, November 10, 2025, as several large and mid-cap companies released their quarterly earnings and announced major corporate developments over the weekend. Here’s a detailed look at the top stocks likely to be in focus today.

Top Stocks to Watch on November 10, 2025

Bajaj Auto: Q2 results in line with estimates; margin at a multi-quarter high of 20.5%.
HAL: Signs agreement with GE to supply 113 F404-GE-IN20 engines for LCA Mk1A.
Nalco: EBITDA up 25%; margin improves to 45% vs 39% YoY.
JSW Cement: Margin rises to 18.62% vs 13.20%; revenue up 17.4% YoY.
Kalyan Jewellers: Strong Q2; EBITDA up 56%; margin at 6.3% vs 5.3% YoY.
Nykaa: Highest EBITDA margin and PAT since IPO; GMV growth for six straight quarters.
Torrent Pharma: EBITDA up 15%; net profit rises 30.5% YoY.
Global Health: Revenue up 15%; ARPOB up 5.5% YoY.
Swiggy: Board approves fundraise up to ₹10,000 crore via QIP.
Ashoka Buildcon: Wins ₹539 crore order from North Western Railway.
Lupin: Bioresearch Centre in Pune receives zero observations from US FDA.
Zydus Lifesciences: Gets tentative US FDA nod for Olaparib tablets.
AstraZeneca Pharma: EBITDA up 44%; margin at 13.5% vs 12.9% YoY.
Allied Blenders: Trademark cancellation plea by John Distilleries dismissed.
Havells: To pay ₹129.6 crore as one-time settlement in trademark case with HPL Group.
GE Shipping: EBITDA up 11.4%; margin rises to 59% vs 48% YoY.
Voltamp Transformers: EBITDA up 24.8%; margin at 19.39% vs 18.85% YoY.
Anant Raj: EBITDA up 48.3%; margin improves to 26.63% vs 22.09% YoY.
Olectra Greentech: EBITDA up 10.4%; revenue rises 25.4% YoY.
Aadhar Housing: Strong Q2; CCI approves Blackstone stake buy.
Neuland Labs: Revenue up 63.7%; margin jumps to 30.4% vs 20.8% YoY.
Ratnamani Metals: EBITDA up 46.8%; margin at 17.7% vs 14.9% YoY.
Bayer CropScience: EBITDA up 11.4%; margin at 13.19% vs 10.59% YoY.
Force Motors: EBITDA up 28.3%; margin rises to 17.4% vs 14.5% YoY.
SMS Pharma: EBITDA up 51.8%; margin at 19.94% vs 16.19% YoY.
Lumax Auto: EBITDA up 50.4%; margin at 13.35% vs 12.19% YoY.
Sasken Technologies: EBITDA up 3%; margin improves to 6% vs 5.4% YoY.
Krsnaa Diagnostics: EBITDA up 19%; margin at 28.5% vs 26.52% YoY.
Apex Frozen Foods: Margin up to 4.82% vs 1.95%; revenue up 19% YoY.
Jupiter Life: EBITDA up 11%; revenue up 17.5% YoY.
Lloyds Engineering: EBITDA up 19%; margin at 15.5% vs 15% YoY.
Trent: Soft revenue growth; PAT declines due to higher depreciation.
Biocon: US FDA issues two observations for Visakhapatnam API unit.
Shipping Corporation of India: EBITDA down 23.7%; margin drops to 30.3% vs 36.7% YoY.
Trans & Rectifiers: EBITDA down 27%; margin at 11.15% vs 15.13% YoY.
VA Tech Wabag: EBITDA down 4.6%; margin at 10.7% vs 13.4% YoY.
Petronet LNG: EBITDA down 3.7%; revenue declines 7.3% YoY.
Puravankara: Net loss widens; margin drops to 16.2% vs 22.7% YoY.
Poly Medicure: EBITDA flat; margin at 25.84% vs 27.43% YoY.
Karnataka Bank: NII down 13%; net profit down 5% YoY.
Rashi Peripherals: Margin at 2.5% vs 2.6%; profit down 12% YoY.
IKIO Tech: EBITDA down 18%; margin falls to 11% vs 18% YoY.
Sanghvi Movers: EBITDA up 10%; margin down to 38.4% vs 47% YoY.
SH Kelkar: EBITDA down 35%; margin drops to 9% vs 14.3% YoY.
Shakti Pumps: EBITDA down 8.5%; margin declines to 20.4% vs 23.4% YoY.
Somany Ceramics: EBITDA down 5%; margin falls to 7.74% vs 8.36% YoY.
Nucleus Software: EBITDA and revenue down 2% YoY.

Swiggy shares jump over 2% as Citi maintains ‘Buy’ rating, raises target price to Rs 495

Aman Shukla — Thu, 09 Oct 2025 04:36:31 +0000

Swiggy shares jumped more than 2% after Citi increased its target price for the company from ₹465 to ₹495 while maintaining a “Buy” rating. The brokerage highlighted strong revenue growth, improving margins, and a clear path to profitability for Swiggy’s quick commerce segment.

Citi stated that Swiggy’s overall revenue rose 64% year-on-year, with adjusted EBITDA losses narrowing to ₹760 crore. Free cash burn improved to ₹950 crore, supported by a cash balance of approximately ₹6,800 crore following the sale of its Rapido stake.

The food delivery business showed steady growth, with gross order value rising 19% YoY and revenue increasing 21% YoY. Contribution margin improved to 7.6%, while adjusted EBITDA margin reached 2.8%, reflecting better operational efficiency.

Swiggy’s quick commerce segment also gained momentum, with gross order value up 23% quarter-on-quarter and 106% year-on-year, and revenue growing 26% QoQ and 111% YoY. Margins improved significantly, and Citi expects the segment to reach breakeven within the next one to three quarters.

Citi also raised the quick commerce target multiple to 1.0x EV/GOV from 0.9x, reflecting stronger growth prospects. Swiggy’s combination of robust revenue growth, improving margins, and a solid cash position continues to make it a stock to watch in India’s delivery and quick commerce market.

Swiggy shares were up 1.92% at ₹429.00 apiece around 10.06 am. It has declined 20.90% this year, so far.

Top stocks to watch today, September 24: Infosys, HCLTech, SBI Cards, Torrent Pharma, Swiggy and more

Aman Shukla — Wed, 24 Sep 2025 02:58:30 +0000

Indian equities are likely to stay in focus today as several companies announced fresh deals, acquisitions, and strategic updates. Here are the key stocks to keep on your radar this Wednesday:

Stocks to Watch Today, September 24

Infosys: Expanded long-term collaboration with Sunrise, Swiss telecom firm, for AI solutions.
HCLTech: Renewed and expanded digital transformation pact with one of the world’s largest commercial vehicle makers.
SBI Cards: August card spending up 25% YoY; market share improved 50 bps MoM.
Dilip Buildcon: JV declared lowest bidder for a ₹1,115 crore project in Kerala.
Swiggy: To sell Rapido stake to Prosus for ₹1,968 crore; approves slump sale of Instamart to wholly owned subsidiary.
Minda Corp: Released Vision 2030; targets 3.5x revenue growth, margin improvement to 12.5%+ in FY25.
NDR InvIT: Radhakishan Damani and Aryaman Jhunjhunwala Trust among buyers in block deals.
Bajaj Electricals: To acquire Morphy Richards brand rights in India and nearby regions for ₹146 crore.
VIP Industries: Appoints Atul Jain (ex-Samsung Electronics Senior Director) as MD for five years.
Lemon Tree Hotels: Signs two new properties — Varanasi (UP) and Rewa (MP).
Torrent Power: Acquires lease rights for 922 acres in Madhya Pradesh for power project worth ₹211 crore.
Torrent Pharma: Gets approval from Competition Commission, South Africa, for JB Chemicals acquisition.
Akzo Nobel India: Imperial Chemical may sell up to 5% equity via block deals; floor price at 4% discount to CMP.

Swiggy to sell its stake in Rapido to Prosus and Westbridge Capital for Rs 2,400 crore

Aman Shukla — Tue, 23 Sep 2025 14:18:35 +0000

Swiggy Limited has announced the sale of its stake in Roppen Transportation Services Private Limited, popularly known as Rapido, to global investor Prosus and Indian fund Westbridge Capital for a total consideration of approximately Rs 2,400 crore. The Board of Directors of Swiggy approved the deal at their meeting held on September 23, 2025.

Under the agreement, Swiggy will divest 10 equity shares and 1,63,990 Series D Compulsorily Convertible Preference Shares (CCPS) in Rapido to MIH Investments One B.V., a Netherlands-based company under the Prosus Group, for around Rs 1,968 crore. In addition, 35,958 CCPS will be sold to Setu AIF Trust and its affiliates under Westbridge Capital for Rs 431.5 crore.

The transaction is part of Swiggy’s strategic plan to realize investments for the benefit of the company and its shareholders. The deal will proceed once customary conditions are met, including approvals from the Competition Commission of India and Swiggy shareholders, in line with the Companies Act, 2013 and SEBI Listing Regulations.

Rapido, known for its bike taxi services, has been a growing player in India’s urban mobility sector. This divestment marks a significant step in Swiggy’s investment strategy, allowing it to reallocate resources and focus on its core food delivery and logistics businesses.

Swiggy and Eternal (Zomato) shares in focus today as Amazon Now launches 10-minute delivery service

Aman Shukla — Thu, 11 Sep 2025 06:31:25 +0000

Swiggy and Eternal shares are in the spotlight today as Amazon ramps up its fast-delivery game. As per ET NOW report, Amazon Now has officially launched 10-minute deliveries in Bengaluru, Delhi, and Mumbai, giving customers an ultra-quick way to get essentials and groceries delivered right to their doorstep.

To support this lightning-fast service, Amazon has already set up more than 100 micro-fulfillment centers across the three cities. And that’s just the beginning—plans are underway to open hundreds more by the end of the year as order volumes continue to surge, reportedly growing 25% month-on-month.

With this aggressive expansion, Amazon Now is not just aiming for speed but also looking to compete with established delivery players, keeping customers happy with convenience and quick service. Investors are keeping a close eye on how this move could impact other players in the space, including Swiggy and Eternal.

In the meantime, as of 12:02 PM, Swiggy shares were trading 0.21% higher at Rs 424.80. On the other hand, Eternal shares were trading 0.68% higher at Rs 326.60.

Swiggy shares jump over 2% as Motilal Oswal upgrades to ‘Buy’ rating with target price of Rs 560

Aman Shukla — Fri, 05 Sep 2025 05:14:58 +0000

Shares of Swiggy surged over 2% in early trade after brokerage Motilal Oswal upgraded its outlook on the company, reflecting renewed optimism in India’s internet and food delivery sector. The brokerage upgraded Swiggy to a buy rating with a target price of ₹560. As of 10:43 AM, the shares were trading 2.33% higher at Rs 432.95.

Motilal Oswal highlighted that the food delivery (FD) segment, which had seen growth capped at 17–18% due to weak demand and rising costs, is now showing clear signs of recovery. Growth is expected to accelerate beyond 20% over the next two to four quarters, driven by festive demand and favourable GST reforms.

In addition, the quick commerce (QC) segment is stabilizing as competitive pressures ease. New entrants are struggling to scale, dark store expansion is slowing, and leading players are focusing on cost optimization. These measures have reduced discounting and lowered customer acquisition costs. The brokerage also noted that GST reforms are likely to boost QC adoption in non-metro areas.

Motilal Oswal has raised its growth estimates for Swiggy to 21–23% for FY26–27 and increased valuation multiples to 35 times FY27 estimated adjusted EBITDA, up from 27 times previously. Profitability timelines for services such as Instamart and Blinkit have been accelerated, with expectations of earlier breakeven.

Swiggy shares fall over 3% as Q1 net loss widens to Rs 1,197 crore

Aman Shukla — Fri, 01 Aug 2025 04:07:05 +0000

Swiggy Ltd. saw its shares fall over 3% in Friday morning trade after the food delivery giant reported a significant widening of losses in the June 2025 quarter. As of 9:35 AM, the shares were trading 3.29% lower at Rs 390.45.

The company posted a consolidated net loss of ₹1,197 crore, almost double the ₹611 crore loss recorded during the same period last year. While revenue grew a strong 54% year-on-year to ₹4,961 crore—up from ₹3,222 crore in Q1 FY24—the surge in expenses, especially in the Quick Commerce segment under the Instamart brand, dragged down profitability.

Quick Commerce Weighs Heavy on Margins

Instamart, Swiggy’s fast-growing grocery delivery arm, continues to be a cash-guzzler. EBIT (Earnings Before Interest and Tax) losses in the Quick Commerce segment widened sharply to ₹797 crore, compared to a loss of ₹379 crore in the same quarter last year.

Quick Commerce revenue, however, showed impressive growth—doubling from ₹374 crore to ₹806 crore year-on-year—indicating a rise in order volumes, but not enough to offset operational losses.

EBITDA Loss Widens

Swiggy’s overall EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) loss rose to ₹954 crore in Q1 FY26, up from ₹544 crore in the same quarter last year. Rising logistics and supply chain costs, along with continued investment in platform innovation and customer acquisition, contributed to the larger deficit.

Food Delivery Business Sees Steady Growth

On a more stable front, Swiggy’s core food delivery business delivered solid growth. Revenue from this segment rose to ₹1,799 crore from ₹1,515 crore last year. EBIT from food delivery improved to ₹202 crore from ₹67 crore, suggesting better cost efficiency and increased order volumes.

Gross Order Value (GOV) for the food delivery vertical increased 18.8% year-on-year to ₹8,086 crore. In comparison, the GOV for the Quick Commerce business surged 108% to ₹5,655 crore, highlighting its rapid expansion despite losses.

The total B2C GOV across businesses reached ₹14,797 crore, registering a 45% year-on-year growth.

Swiggy shares jump 3% after IIFL initiates ‘Buy’ call with target price of Rs 535

Aman Shukla — Thu, 19 Jun 2025 04:42:30 +0000

Swiggy shares gained 3% after IIFL Securities initiated coverage with a ‘Buy’ rating and a target price of ₹535. As of 10:11 AM, the shares were trading 2.85% higher at Rs 375.80.

The brokerage expects Swiggy to post a robust revenue CAGR of 28% and turn PAT positive by FY28. IIFL also highlighted that Swiggy’s quick commerce segment (Qcomm) could offer asymmetric upside, adding further growth potential to the business.

Swiggy shares opened at ₹364.55 and touched a high of ₹377.40 during the session. The stock saw a low of ₹362.10 on the same day. Currently, the stock remains well below its 52-week high of ₹617.30 and above its 52-week low of ₹297.00.

Why Swiggy and Zomato stocks jump over 7% today?

Aman Shukla — Wed, 04 Jun 2025 07:13:37 +0000

Shares of food delivery giants Zomato and Swiggy surged more than 7% today following news that quick commerce unicorn Zepto has postponed its initial public offering (IPO) by a year. Sources familiar with the matter told Moneycontrol that Zepto now plans to enter the public markets in calendar year 2026 instead of 2025 as earlier anticipated.

Zepto CEO and co-founder Aadit Palicha had previously expressed confidence about going public in 2025, provided the company’s business performance remained strong. However, as per Moneycontrol, insiders revealed that the company is currently focusing on reducing cash burn and improving profitability, which has pushed back its IPO timeline.

Despite potential draft red herring prospectus (DRHP) filings in the near term, Zepto will not proceed with an IPO this year. Reports also indicate Zepto missed its revenue and cost targets for Q4 FY25 and is adjusting its strategy accordingly.

Eternal (Zomato) shares opened at ₹237.10 and reached a high of ₹244.70 today, with the low remaining at ₹237.10. The stock is close to its 52-week high of ₹246.94, reflecting strong market interest. The 52-week low stands at ₹209.86.

On the other hand, shares of Swiggy opened at ₹335.40 and surged to a high of ₹357.50 today, showing strong buying interest. The stock touched a low of ₹335.10 during the session. Despite this rally, Swiggy remains well below its 52-week high of ₹617.30 but comfortably above its 52-week low of ₹297.00.

Swiggy shares jump nearly 3% as Morgan Stanley initiates ‘Overweight’ rating with target price of Rs 405

Aman Shukla — Tue, 03 Jun 2025 04:39:20 +0000

Swiggy shares surged nearly 3% after Morgan Stanley initiated coverage on the stock with an Overweight rating and a target price of ₹405. The brokerage firm cited improved execution in food delivery and a strong push into quick commerce (QC) as key growth drivers.

Morgan Stanley raised its total addressable market (TAM) estimate for QC to $57 billion by 2030 and expects Swiggy to maintain its market share. The firm also forecasts QC to reach contribution margin breakeven in six quarters and adjusted EBITDA breakeven in the second half of FY29.

Swiggy’s food delivery margins are anticipated to gradually match those of rival Zomato (referred to as “Eternal”). Despite ongoing heavy investments, the stock valuation hasn’t fully priced in Swiggy’s long-term topline potential, according to analysts.

Valuation-wise, Swiggy’s food delivery business is pegged at 25x FY28 adjusted EBITDA, with a 5% discount to Zomato. The QC segment is valued at 27x FY31 adjusted EBITDA, with a 25% discount.

Swiggy shares opened at ₹338.00 today, and, at the time of writing, reached a high of ₹342.45 and a low of ₹337.45. The stock remains significantly below its 52-week high of ₹617.30, but above the 52-week low of ₹297.00.

Top stocks to watch today, May 12: SBI, Yes Bank, Adani Power, Swiggy, Prestige Estates, ABB India and more

Aman Shukla — Mon, 12 May 2025 02:53:56 +0000

Indian benchmark indices, Sensex and Nifty50, are expected to open on a positive note today, supported by improving geopolitical sentiment as the India-Pakistan understanding remains intact. Here’s a look at key stocks likely to remain in focus:

Key Stocks to Watch

SBI, Yes Bank: State Bank of India and a group of banks are set to sell a 20% stake in Yes Bank to Sumitomo Mitsui Banking Corporation.
Adani Power: Received a Letter of Award from Uttar Pradesh Power Corporation to supply 1,500 MW of electricity.
BEML: Allotted approximately 148 acres of land by the Madhya Pradesh government.
Prestige Estates: Announced a joint development agreement with Arihant for real estate projects in Chennai.
Puravankara: Formed a joint venture for 24.59-acre land in Bengaluru with an estimated gross development value (GDV) of ₹3,300 crore.
Birla Corporation: Reported better-than-expected Q4 results with a 7% quarter-on-quarter rise in realizations.
Solara Active Pharma: Received Form 483 with zero observations from the US FDA for its Ambernath manufacturing facility.
Novartis India: Posted a year-on-year revenue growth of 3%; operating margin improved to 28.5% from 14.2%.
CE Info Systems: Reported a 46% increase in EBITDA and a 34.2% YoY rise in revenue.
Atul Auto: EBITDA increased 14.5%, while revenue grew 31.9% YoY.
Eveready Industries: EBITDA rose 2.4% YoY, with a slight margin decline to 8.6% from 9%.
Aarti Pharma: Reported 24% growth in EBITDA, with operating margin rising to 25.8% from 23.2%.
Triveni Turbines: Posted 34% YoY growth in EBITDA; margin improved to 22.4% from 19.6%.
Borosil Renewables: Turned EBITDA positive; revenue increased 32% YoY.
Pharma: “To sign an exec order to reduce drug prices,” Trump on Truth Social
Manappuram Finance: NII declined 3% YoY; other expenses rose 21%.
ABB India: Q1CY25 results missed estimates, though EBITDA margin improved by 8 basis points YoY.
Thermax: Q4 earnings fell below expectations, citing soft growth in industrial infrastructure and green solutions.
Glenmark: The US FDA classified its Indore manufacturing facility as “Official Action Indicated”.
Bank of India: Net interest margin declined to 2.61% from 2.80% QoQ; net NPA rose to 1.22% from 0.85%.
Navin Fluorine: Reported results in line with estimates; margin rose by 720 basis points YoY.
Swiggy: Reported overall EBITDA pressure, primarily due to losses in its quick-commerce business.
GE Shipping: Revenue declined 18.3%, while profit dropped 60% YoY.
Electrosteel Castings: Reported a 48.7% decline in EBITDA; margin dropped to 9.45% from 15.5%.
Apollo Pipes: EBITDA fell 2%; operating margin decreased to 7.65% from 9.62%.

Swiggy and Kouzina Food Tech sign strategic agreement for four digital food brands

Aman Shukla — Tue, 06 May 2025 05:11:24 +0000

Kouzina Food Tech has signed a strategic agreement with Swiggy to acquire the exclusive licensing rights for four of Swiggy’s digital-first food brands—The Bowl Company, Homely, Soul Rasa, and Istah. Under the agreement, Kouzina will oversee the end-to-end operations, innovation, and business growth of these brands. Swiggy has also agreed to transfer full ownership of the brands to Kouzina upon meeting certain pre-defined conditions.

The Bowl Company, launched by Swiggy in 2017, is a prominent player in India’s digital food market. It focuses on convenient, single-serve meals with a menu catering to diverse audiences, including students, working professionals, and families. Popular offerings include Peri Peri Chicken Rice Bowl, Nawabi Paneer Lababdar Rice Bowl, Drunken Chicken Rice Bowl, and Dhaba Style Dal Tadka Rice Bowl.

With the inclusion of Swiggy’s brands, Kouzina’s portfolio now spans across various food segments—from everyday meals and thalis (via brands like Mealy and Homely) to premium and international cuisine options (such as The Bowl Company and Istah). It also includes regional and indulgent offerings through brands like Vasudev Adiga’s, WarmOven, KaatiZone, MomoZone, and Mad Over Parathas & Pakodas.

Kouzina operates through a network of over 250 kitchen partners in more than 100 Indian cities. The expansion of its brand portfolio is expected to drive order volumes and enhance the efficiency of its cloud kitchen infrastructure.

Kouzina has recently acquired South Indian restaurant chain Vasudev Adiga’s and invested in MOPP Foods, known for its appearance on Shark Tank India. The company is actively growing its franchise network, encouraging participation from both new and existing partners.

The partnership with Swiggy aligns with broader trends in India’s food delivery and cloud kitchen sectors, which continue to grow due to increased online ordering and evolving consumer preferences. Kouzina aims to scale sustainably and has plans to go public within the next five years.

About Kouzina

Kouzina Food Tech was founded by alumni from IIT and IIM, along with professionals from Ola, Flipkart, and Amazon. The company is focused on developing scalable food brands across cloud kitchens, quick service restaurants (QSRs), and quick commerce platforms. It is backed by institutional investors and continues to expand its multi-brand food service operations nationwide.

Swiggy’s Bolt expands to 500+ cities, now powers over 1 in 10 food delivery orders

Aditya Bhagchandani — Fri, 02 May 2025 10:59:17 +0000

Swiggy has significantly expanded its hyper-fast delivery service, Bolt, which is now operational in over 500 cities across India. Introduced in October 2024, Bolt has rapidly scaled up, and now handles more than 10% of all food delivery orders on the platform, Swiggy said in a press release dated May 2, 2025.

Powered by over 45,000 restaurant brands, Bolt’s growth spans both metro cities and Tier 2 and Tier 3 towns. The service delivers high-demand, quick-serve dishes within 10 minutes, supported by a highly optimized backend and limited delivery radius of just 2 km.

Swiggy emphasized that Bolt’s operational model ensures food quality and safety—delivery partners are not informed of a Bolt-tagged order and are not incentivized for delivery speed, keeping rider safety paramount.

Rohit Kapoor, CEO of Swiggy’s Food Marketplace, said, “It’s hard not to love Bolt when your food arrives faster, hotter, and just the way it’s meant to be enjoyed. What makes it click isn’t just speed, but the operations behind the scenes.”

Popular QSR brands like KFC, McDonald’s, Subway, Faasos, and Burger King are already live on Bolt. For restaurants, the platform is helping optimize workflows and increase daily orders, while new users show higher retention rates.

The service is prominently featured within the Swiggy app and is part of Swiggy’s broader strategy to deepen consumer engagement and accelerate market penetration.

Swiggy shares fall over 4% today; company gets back-to-back tax notices from Income Tax and Profession Tax Departments

Aditya Bhagchandani — Mon, 07 Apr 2025 05:33:58 +0000

Shares of Swiggy Limited dropped 4.61% on April 7, 2025, trading at ₹321.80, down ₹15.55 from its previous close of ₹337.35. The decline comes as the company faces mounting regulatory pressure following two significant tax-related developments.

On Sunday, Swiggy disclosed it received a fresh tax notice from the Office of the Profession Tax Officer in Pune, assessing dues of ₹7.59 crore for the April 2021 to March 2022 period. The notice alleges Swiggy violated provisions of the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975, by failing to properly deduct profession tax from employees’ salaries.

This notice follows closely on the heels of a much larger issue. On March 29, the Income Tax Department served Swiggy with an assessment order for FY 2021–22, raising a demand of ₹158.26 crore. The order was issued by the Deputy Commissioner of Income Tax, Central Circle – 1(1), Bangalore. Key concerns highlighted include the disallowance of cancellation charges paid to merchants and non-disclosure of interest income received from tax refunds.

Swiggy has stated that it strongly disagrees with the assessments and plans to challenge both orders through appropriate legal channels. The company maintains that the orders will not significantly affect its financials or daily operations.

Swiggy receives Rs 98.9 lakh tax demand for FY18; to appeal against TDS order

Aditya Bhagchandani — Wed, 26 Mar 2025 06:45:05 +0000

Swiggy Limited has received a tax demand of ₹98.91 lakh from the Income Tax Department for the financial year 2017–18, the company disclosed in a regulatory filing on March 26. The demand includes ₹53.47 lakh in tax and ₹45.45 lakh in interest.

The notice was issued by the Deputy Commissioner of Income-tax, TDS Circle – 3(1), Bangalore, on March 25, 2025. According to the order, the demand stems from an alleged non-deduction of tax under Section 194C of the Income-tax Act, 1961, relating to cancellation charges paid by Swiggy to merchants.

Swiggy, however, maintains that it has a strong case on merits and plans to file an appeal with the appropriate authority. The company clarified that the order will not have any significant impact on its financial or operational performance.

“We believe that we have a strong case on merits and are taking necessary steps to protect our interest through review or appeal,” said Sriharsha Majety, Managing Director and Group CEO of Swiggy.

Swiggy partners with Sulabh International, sets 100% EV goal at Sustainability Summit 2025

Aditya Bhagchandani — Tue, 11 Mar 2025 12:15:20 +0000

Swiggy Limited (NSE: SWIGGY / BSE: 544285), India’s leading on-demand convenience platform, has unveiled a series of sustainability initiatives at the Swiggy Sustainability Summit 2025 held in New Delhi on March 11. Among the key announcements was a partnership with Sulabh International, allowing Swiggy’s delivery partners across major cities—including Delhi NCR, Mumbai, Pune, Hyderabad, Bengaluru, and Chennai—to access Sulabh Shauchalaya public toilets free of charge.

Additionally, Swiggy has set ambitious sustainability goals for the coming years, including:

100% Electric Vehicle (EV) Fleet by 2030: Swiggy aims to transition to a fully electric delivery fleet to reduce carbon emissions.
Sustainable Packaging Commitment: By 2030, Swiggy plans to ensure 100% of its restaurant partners adopt eco-friendly and responsible packaging alternatives.
Waste Reduction Strategy: The company will work on reducing perishable waste by 25% annually through enhanced processes and automation in its supply chain.
Boosting Local Sourcing: Swiggy will ensure 100% locally available harvests are sourced indigenously by 2025 to support farmers and local businesses.
Empowering Workforce: The company aims to upskill and reskill over 1 million individuals in its ecosystem and empower 100,000 women by 2030.

CEO’s Vision for a Sustainable Future

Swiggy’s Managing Director & Group CEO Sriharsha Majety highlighted the company’s commitment to driving meaningful change:
“As Swiggy transitions into a publicly listed company, our responsibility extends beyond convenience. We are focused on fostering inclusivity, empowering communities, and driving sustainable innovation to build a greener future.”

Delivery Partners’ Well-being at the Core

Swiggy Food Marketplace CEO Rohit Kapoor emphasized the importance of delivery partners’ welfare, stating that access to proper sanitation facilities is a basic necessity, and this partnership with Sulabh International is a step toward improving their daily work experience.

What’s Next?

Swiggy’s long-term sustainability roadmap aligns with the UN Sustainable Development Goals (SDGs), and the company has committed to distributing 100 million meals by 2030 through its Swiggy Serves initiative.

Swiggy shares jump nearly 5% as ICICI Securities reiterates ‘BUY’ rating with target price of Rs 740

Aditya Bhagchandani — Tue, 04 Mar 2025 06:54:04 +0000

Swiggy’s stock surged nearly 5% to ₹341, reflecting investor optimism after ICICI Securities reiterated a ‘BUY’ rating on the company. The brokerage maintained its three-stage DCF-based target price of ₹740, citing improving market conditions in quick commerce and a shift toward sustainable growth strategies.

ICICI Securities’ Key Takeaways on Quick Commerce:

Discounting trends are stabilizing: After witnessing aggressive discounts between November 2024 and January 2025, the industry has moderated item-level discounts, now focusing on cart-level incentives to drive higher order values.
Reduced marketing expenses: Quick commerce platforms have scaled back their performance marketing spends, which could improve their EBITDA conversion in the medium term.
Investor sentiment shifting towards sustainable growth: The recent market correction has emphasized that investors prioritize long-term profitability over high cash burn and irrational discounting.

Swiggy’s Valuation and Growth Outlook

ICICI Securities values Swiggy’s food delivery segment at ₹998 billion ($11.7 billion), while its quick commerce business is estimated at ₹428 billion ($5 billion). The company also holds a cash balance of ₹90 billion ($1.1 billion), supporting future expansion.

Comparative Valuation with Zomato

ICICI Securities also reiterated a ‘BUY’ on Zomato, setting a target price of ₹310.
Zomato’s food delivery segment is valued at ₹1.6 trillion ($19.6 billion), while quick commerce is pegged at ₹966 billion ($11.4 billion).
Zomato maintains a higher cash balance of ₹180 billion ($2.1 billion).

Key Risks Highlighted

Despite the positive outlook, ICICI Securities flagged potential risks, including:

A slowdown in discretionary spending, impacting demand.
External market disruptions, which could affect business operations and growth plans.

Swiggy’s strong performance reflects growing investor confidence in its long-term potential, despite near-term uncertainties in the quick commerce space.

Swiggy Q3 FY25 results: Revenue jumps 30.9% YoY to Rs 3,993.07 crore, net loss widens to Rs 799.08 crore

Matrika Shukla — Wed, 05 Feb 2025 10:42:17 +0000

Swiggy Limited, India’s leading food delivery and quick-commerce platform, announced its Q3 FY25 financial results, reporting a 30.9% year-on-year (YoY) increase in revenue to ₹3,993.07 crore, while its net loss widened to ₹799.08 crore. The financial results were approved by the company’s Board of Directors and reviewed by its statutory auditors, BSR & Co. LLP.

Financial Highlights (Q3 FY25 vs. Q3 FY24):

Revenue from operations: ₹3,993.07 crore, up 30.9% from ₹3,048.69 crore in Q3 FY24.
Net loss: ₹799.08 crore, compared to ₹574.38 crore in Q3 FY24.
Total income: ₹4,095.83 crore, up from ₹3,130.93 crore YoY.
Total expenses: ₹4,898.27 crore, compared to ₹3,700.17 crore in the same quarter last year.

Segment Performance:

Swiggy operates across multiple business segments, with significant contributions from:

Food Delivery: ₹1,634.68 crore (up from ₹1,317.40 crore YoY).
Quick Commerce (Instamart): ₹576.50 crore (up from ₹270.04 crore YoY).
Supply Chain & Distribution: ₹1,692.57 crore (up from ₹1,376.81 crore YoY).
Out-of-Home Dining (DineOut & Events): ₹66.45 crore (up from ₹36.21 crore YoY).
Platform Innovations (Swiggy Genie, Private Brands, etc.): ₹22.85 crore.

Key Business Developments:

IPO Completed: Swiggy successfully completed its Initial Public Offering (IPO) during the quarter, raising ₹4,358.98 crore net of issue expenses.
Expansion in Quick-Commerce: The company saw over 100% growth in its quick-commerce segment Instamart, driven by rising consumer adoption.
Increased Advertising & Promotions: Swiggy’s advertising and sales promotion expenses surged to ₹751.48 crore, reflecting its aggressive growth strategy.
Operational Challenges: Swiggy faced higher delivery costs of ₹1,126.94 crore due to increased incentives for delivery partners and higher fuel prices.

Despite widening losses, Swiggy continues to expand aggressively, with a focus on quick-commerce, restaurant dining solutions, and supply chain enhancements. The company remains optimistic about its long-term growth prospects, leveraging its strong market presence and technological advancements.

Swiggy launches app ‘Snacc’ for 15-minute food delivery

Aditya Bhagchandani — Wed, 08 Jan 2025 09:26:19 +0000

Swiggy has introduced a new standalone app, ‘Snacc by Swiggy’, to cater to the rising demand for ultra-fast food delivery. The app focuses on delivering snacks and quick meals within 15 minutes, directly competing with players like Zepto Cafe and Blinkit’s upcoming Bistro service.

Key Features:

Offerings: Snacc provides a variety of items, including tea, coffee, breakfast options, quick meals, and desserts.
Availability: The app is currently being piloted in select pincodes of Bengaluru.
Standalone App Strategy: Unlike Swiggy’s unified app approach, Snacc operates independently.

Competitive Landscape:

The launch of Snacc comes as the quick food delivery space witnesses significant competition:

Zomato: Recently introduced a 15-minute food delivery feature on its main app for quick-to-prepare and ready-to-eat options.
Zepto Cafe & Blinkit Bistro: Competing services, with Blinkit’s Bistro yet to become operational.
Ola Dash: Offers 10-minute food delivery, currently expanding beyond Bengaluru.
Magicpin’s MagicNOW: Delivers within 15 minutes across six major Indian cities.

Swiggy’s Snacc follows the introduction of Bolt, a similar feature launched in October on its main app. During Swiggy’s Q2 earnings call, the company revealed that 5% of its food delivery orders already came from Bolt.

Swiggy shares jump 2% after ‘Buy’ rating from Axis Capital with Rs 640 price target

Aman Shukla — Mon, 16 Dec 2024 04:10:35 +0000

Swiggy’s stock surged over 2% in morning trade following Axis Capital’s ‘Buy’ rating with a target price of ₹640. The firm believes Swiggy presents a compelling investment opportunity, despite trailing Zomato.

Analysts highlight the company’s strong growth potential in the underpenetrated food delivery and quick commerce sectors, driven by rising urban demand.

Swiggy’s expansion plans, particularly in quick commerce, are expected to boost revenue, while cost-control measures and improved governance should enhance profitability. With a focus on innovation and a strengthened leadership team, Swiggy is positioned to lead in India’s rapidly growing food delivery and quick commerce markets, making it a strong contender for long-term growth.

Swiggy shares opened at ₹538.00 today, with a high of ₹547.40 and a low of ₹533.00. The stock has reached a 52-week high of ₹576.70 and a low of ₹391.00.

As of 9:39 am, Swiggy shares were trading 2.38% higher at Rs 545.00 on the NSE.

Swiggy introduces invite-only One BLCK membership for its users

Aman Shukla — Wed, 11 Dec 2024 09:31:44 +0000

Swiggy Ltd, India’s pioneering on-demand convenience platform, has launched One BLCK, an exclusive, invite-only membership designed for customers seeking top-tier convenience and service. This innovative offering enhances the Swiggy experience with faster deliveries, an On-Time Guarantee, and access to premium customer care.

Key Benefits of One BLCK:

Food Delivery: Faster deliveries and free deliveries, along with member-only discounts.
Dining Out: Complimentary cocktails, drinks, or desserts.
Quick Commerce: Unlimited free deliveries on Instamart.
Exclusive Perks: Members also gain access to exclusive perks from top partner brands such as Amazon Prime, Hotstar, Hamleys, Cinepolis, and more.
Celebratory Bonus: Complimentary Yatra Prime membership for One BLCK users.

This membership also incorporates all the perks of Swiggy One, making it India’s first premium membership spanning food delivery, quick commerce and dining out.

Swiggy One customers utilize many services and spend three times more than non-members since its launch in 2021. Swiggy’s introduction of a new premium service, One BLCK, promises to enrich the experience for premium consumers while driving growth across all businesses.

Swiggy One BLCK is available by invitation only and has a launch price of INR 299 for a three-month subscription. Invitations to Swiggy One BLCK will be released in phases, making this coveted membership available to select users across India. Existing Swiggy One members can also upgrade to the new membership.

Swiggy stock surges 3% after CLSA initiates Buy call with Rs 708 target

Aman Shukla — Tue, 10 Dec 2024 04:11:29 +0000

Swiggy’s stock rose 3% following CLSA’s initiation of a Buy call with a target price of ₹708 per share. CLSA emphasized Swiggy’s strong early-mover advantage and its large total addressable market (TAM), with the Indian quick commerce market expected to grow sixfold by FY27.

While Swiggy lags behind Zomato in market share, CLSA believes its current valuation accounts for this gap. The brokerage praised Swiggy’s enhanced execution, leading to accelerated growth and improved profitability. CLSA sees Swiggy’s diversified offerings, especially Instamart, as key drivers of future revenue and market share expansion in the fast-growing quick commerce segment.

Swiggy shares opened at ₹560.00 and reached a high of ₹567.90, while the low stood at ₹551.35. The 52-week high for Swiggy is ₹576.70, with a 52-week low of ₹391.00.

As of 9:41 am, Swiggy shares were trading 3.17% higher at Rs 553.85 on the NSE.

CLSA initiates Buy call on Swiggy, expects stock to rally 31% from current levels

Markets Desk — Tue, 10 Dec 2024 02:07:47 +0000

CLSA has initiated a Buy call on Swiggy with a price target of ₹708 per share (31% upside from current levels), emphasizing its substantial total addressable market (TAM) and strong early-mover advantage. The brokerage projects the Indian quick commerce market to grow sixfold between FY24 and FY27, with Swiggy emerging as one of the largest beneficiaries.

Despite lagging behind Zomato in market share, CLSA believes Swiggy’s current valuation already reflects this disparity. Swiggy’s execution capabilities have significantly improved, leading to accelerated growth and improved profitability. Its focus on quick commerce positions the company to capitalize on the expanding demand, making it a key player in the rapidly growing segment.

The brokerage highlights Swiggy’s diversified offerings, including Instamart, which enhances its ability to cater to evolving consumer preferences. CLSA expects this segment to be a major revenue driver, further strengthening Swiggy’s market presence in the coming years.

Stocks Touching All-Time Highs Today: Skipper, MKVentures Capital, Swiggy, STML, Affle and more

Aditya Bhagchandani — Thu, 05 Dec 2024 05:05:43 +0000

The Indian equity markets started the day on a positive note, with the Sensex climbing 168.00 points or 0.21% to reach 81,124.33 at 9:16 am. Similarly, the Nifty 50 index edged higher by 40.35 points or 0.16% to trade at 24,507.80.

Investors are keeping a close watch on market movements amid evolving global cues and domestic developments. Key sectors such as IT, banking, and energy are likely to remain in focus as the trading session unfolds.

Stocks Touching All-Time Highs Today

Here are the stocks that have reached their all-time highs during today’s trading session:

Steelman Telecom Ltd (STML)
- Price: ₹182.40
- Change: +17.83%
AKG Exim Ltd (AKG)
- Price: ₹21.35
- Change: +17.05%
Technopack Polymers Ltd (TECHNOPACK)
- Price: ₹79.00
- Change: +16.18%
Suryalakshmi Cotton Mills Ltd (SURYALAXMI)
- Price: ₹94.41
- Change: +15.06%
Lambodhara Textiles Ltd (LAMBODHARA)
- Price: ₹197.15
- Change: +14.58%
Bharat Bhushan Shares & Commodity Brokers Ltd (BHARAT)
- Price: ₹75.59
- Change: +12.54%
RRIL Ltd (RRIL)
- Price: ₹23.29
- Change: +10.85%
Skipper Ltd (SKIPPER)
- Price: ₹641.40
- Change: +10.23%
MKVentures Capital Ltd (MKVENTURES)
- Price: ₹2,257.80
- Change: +10.04%
Adhata Global Ltd (ADHATA)
- Price: ₹22.47
- Change: +5.00%
Artificial Electronics Manufacturing Ltd (AEIM)
- Price: ₹337.80
- Change: +4.99%
Affle (India) Ltd (AFFLE)
- Price: ₹1,815.60
- Change: +2.09%
AGI Greenpac Ltd (AGI)
- Price: ₹1,159.15
- Change: +2.27%
Revathi Equipment India Ltd (RVTH)
- Price: ₹2,030.40
- Change: +5.00%
Shilchar Technologies Ltd (SHILCTECH)
- Price: ₹8,734.95
- Change: +2.64%
Shradha AI Technologies Ltd (SHRAAITECH)
- Price: ₹108.82
- Change: +5.00%
Swiggy Ltd (SWIGGY)
- Price: ₹544.15
- Change: +5.09%

These stocks have shown strong performance today, making them ones to watch for future opportunities.

Morgan Stanley maintains Overweight call on Zomato post Swiggy’s Q2 results

Markets Desk — Wed, 04 Dec 2024 02:17:29 +0000

Morgan Stanley has maintained its ‘Overweight’ rating on Zomato with a target price of ₹355, deriving insights from Swiggy’s Q2FY25 results. Swiggy reported steady growth in food delivery and hyper-growth in the quick commerce segment, signaling expanding total addressable markets (TAM) and average order values (AOV). These trends bode well for Zomato, which continues to lead the quick commerce segment through its Blinkit platform.

Morgan Stanley highlights that Blinkit outperformed Swiggy’s Instamart with a 122% YoY growth in gross order value (GOV) compared to Swiggy’s 76%. The brokerage believes that Zomato’s leadership in food delivery and quick commerce, coupled with its ability to innovate, positions it to capitalize on the growing demand in these segments.

With sustained industry tailwinds and a strong competitive edge, Zomato is well-placed to deliver growth and enhance shareholder value in the coming quarters.

Swiggy shares surge over 6% ahead of its Q2 results today

Aditya Bhagchandani — Tue, 03 Dec 2024 04:03:24 +0000

Swiggy shares climbed 6% in early trading today as investors awaited the company’s Q2 FY25 results, which are expected to reflect its recent growth trajectory.

In H1 FY25, Swiggy reported revenue of $750 million (around ₹6,300 crore), marking a 40% year-on-year growth compared to $536 million (₹4,500 crore) in the same period last year. Adjusted EBITDA improved significantly, narrowing its losses by 41% from -$145 million (₹1,218 crore) to -$85 million (₹714 crore), as disclosed by its major shareholder, Prosus.

The stock’s performance comes shortly after Swiggy’s IPO last month, one of the largest for a new-age company in India. The IPO raised ₹11,327.43 crore, including a fresh issue worth ₹4,499 crore and an offer for sale of ₹6,828.43 crore. Swiggy’s IPO price band was set at ₹371-₹390 per share, and its successful listing has bolstered investor confidence in the company’s growth potential in India’s food delivery market.

As of 9:30 a.m. today, Swiggy’s shares were trading up 4.24% at ₹514.65, reflecting strong investor sentiment ahead of the earnings announcement.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Swiggy’s market cap declines by Rs 2,159 crore today

Aditya Bhagchandani — Thu, 28 Nov 2024 06:30:15 +0000

Swiggy Limited’s shares declined by 1.93%, closing at Rs 489.40 from the previous close of Rs 499.05. This drop resulted in a loss of approximately Rs 2,159 crore in market capitalization, bringing the total market cap to Rs 1,09,549.61 crore.

During the day, the stock traded within a range of Rs 483.00 to Rs 517.00, with a volume of 97.74 lakh shares and a traded value of Rs 484.18 crore. Swiggy’s 52-week high was also recorded at Rs 517.00 during today’s session, while the 52-week low remains at Rs 391.00.

Swiggy continues to attract attention in the e-commerce and retail sector despite market fluctuations.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or platform is not liable for any losses arising from the use of this information.

Swiggy’s market cap gains Rs. 6,733 crore today

Aditya Bhagchandani — Wed, 27 Nov 2024 04:47:39 +0000

Swiggy shares surged 6.51% to Rs. 491.95 during today’s session, resulting in a market capitalization increase of Rs. 6,733 crore. The company’s total market cap now stands at Rs. 1,10,120.42 crore.

Key Highlights:

Market Cap Increase: Rs. 6,733 crore
Current Market Cap: Rs. 1,10,120.42 crore
Stock Performance: Up 6.51% to Rs. 491.95
Trading Volume: 140.78 lakh shares
Traded Value: Rs. 683.94 crore
52-Week Range: High of Rs. 499.00 and low of Rs. 391.00

Swiggy shares hit a new 52-week high of Rs. 499.00, reflecting investor optimism in the e-commerce giant’s growth potential.

Swiggy shares surge over 2.5% after UBS initiates Buy call on the stock with target price of Rs 515

Markets Desk — Tue, 26 Nov 2024 03:49:21 +0000

Swiggy shares opened on a positive note today, trading at ₹441.60, up 2.53%, following UBS’s initiation of coverage with a ‘Buy’ rating and a target price of ₹515. The brokerage’s optimistic outlook on Swiggy stems from its strong positioning in India’s online food delivery (OFD) and quick commerce (Q-com) segments.

UBS highlighted Swiggy’s valuation, currently at a 35% discount compared to Zomato, and its closing gap in scale and margin performance. The quick commerce business, which leverages Swiggy’s logistics expertise, is noted for promising growth potential, catering to rising consumer demands for rapid delivery.

However, UBS cautioned about operational inefficiencies, emphasizing the need for further improvement to fully harness its potential. Swiggy’s dual focus on OFD and Q-com is viewed as a strategic advantage, positioning the company for long-term growth in a highly competitive market.

The stock’s upward momentum reflects positive investor sentiment driven by UBS’s bullish stance.

UBS initiates ‘Buy’ call on Swiggy, sets target price at ₹515

Markets Desk — Tue, 26 Nov 2024 02:20:08 +0000

UBS has initiated a Buy rating on Swiggy, setting a target price of ₹515. The brokerage highlights Swiggy’s strong positioning in India’s online food delivery (OFD) and quick commerce (Q-com) segments, with significant room for growth. Operating at a 35% valuation discount to Zomato, Swiggy is closing the gap in terms of scale and margin performance.

The quick commerce segment shows promising signs, with Swiggy leveraging its logistics expertise to meet consumer demands for rapid delivery services. However, UBS cautions that Swiggy still needs to improve operational efficiencies to maximize its potential. The brokerage believes that Swiggy’s dual-focus strategy across food delivery and Q-com provides an edge in the competitive landscape, making it a strong contender for long-term investment opportunities.

Swiggy’s market cap declines by Rs 3,045 crore: Know More

Aditya Bhagchandani — Mon, 18 Nov 2024 08:10:59 +0000

Shares of Swiggy Limited fell 3.15% on November 18, 2024, closing at Rs 417.15, down from the previous close of Rs 430.70. This decline resulted in a market capitalization reduction of approximately Rs 3,045 crore, bringing the total market cap to Rs 93,399.21 crore.

Key Trading Details:

Traded Volume: 219.83 lakh shares
Traded Value: Rs 934.42 crore
VWAP (Volume Weighted Average Price): Rs 425.07
% Deliverable Quantity: 33.64%

Price Highlights:

52-Week High: Rs 489.40 (14-Nov-2024)
52-Week Low: Rs 391.00 (13-Nov-2024)
Upper Band: Rs 516.80
Lower Band: Rs 344.60

This recent drop reflects heightened market volatility, impacting the company’s valuation and investor confidence.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information.

Swiggy Stock Price: Shares continue to surge, gaining 7% following a strong market debut

Aditya Bhagchandani — Thu, 14 Nov 2024 03:54:17 +0000

Swiggy shares have shown impressive momentum, rising by 7% today after an 8% debut gain and a 7% increase in yesterday’s trading session. On November 13, Swiggy’s shares were listed at a premium on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The stock debuted at ₹420 per share on the NSE, up 7.69% from its IPO price of ₹390. On the BSE, Swiggy listed at ₹412, a 5.6% premium, and surged to an intraday high of ₹449, achieving a 15.12% increase from the IPO price.

Swiggy’s market valuation briefly touched ₹1 lakh crore, reaching ₹89,549.08 crore in early trade yesterday. The stock’s strong debut defied flat grey market premium expectations, surprising market analysts.

As of today, at 9:22 AM, Swiggy shares were trading 5.94% higher at ₹483.10, indicating continued investor confidence and strong demand in early trading.

Swiggy’s market cap gains Rs 11,060 crore as stock surges 4.61%

Aditya Bhagchandani — Wed, 13 Nov 2024 09:15:45 +0000

Shares of Swiggy Limited witnessed a notable surge, closing at ₹439.35, reflecting a 4.61% increase from the previous close of ₹390.00. This strong performance led to a significant gain in the company’s market capitalization.

As of today’s trading session, Swiggy Limited’s market cap reached ₹98,469.30 crore, an increase of approximately ₹11,060.57 crore from the previous session. The stock opened at ₹420.00, reached a high of ₹449.00, and touched a low of ₹391.00, marking a volatile yet upward trend.

Brokerage Initiation and Analyst Insights

Brokerage firm JM Financial has initiated coverage on Swiggy, assigning the stock its first ‘buy’ rating with a target price of ₹470, indicating a potential upside of 20% from the IPO price of ₹390. Swiggy, which listed at an 8% premium on November 13, saw its shares surge to ₹448, marking a gain of around 15%.

JM Financial analyst Swapnil Potdukhe expressed confidence in Swiggy’s growth trajectory, highlighting the potential of its Instamart quick commerce segment to reach a scale comparable to its core food delivery business. The brokerage views Swiggy as a significant player in India’s hyperlocal delivery market, second only to Zomato, and sees multiple avenues for the company to achieve sustainable margins.

Key Trading Information

Traded Volume: 966.80 lakh shares
Traded Value: ₹4,106.67 crore
Deliverable Percentage: 54.52%

Price Information

52-Week High: ₹449.00 (as of 13-Nov-2024)
52-Week Low: ₹391.00
Upper Price Band: ₹504.00
Lower Price Band: ₹336.00

Additional Security Information

Status: Listed
Date of Listing: 13-Nov-2024

The steady climb in Swiggy’s share price highlights positive investor sentiment, bolstered by optimistic brokerage coverage, which contributed to the surge in its market cap.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

JM Financial assigns ‘buy’ rating to Swiggy, projects 20% upside from IPO price

Aditya Bhagchandani — Wed, 13 Nov 2024 06:40:11 +0000

Brokerage firm JM Financial has initiated coverage on Swiggy, assigning the stock its first ‘buy’ rating and setting a target price of ₹470, which reflects a 20% potential upside from the IPO price of ₹390. Swiggy, which listed at an 8% premium on November 13, saw its shares surge to ₹448, marking a gain of around 15%.

JM Financial analyst Swapnil Potdukhe expressed confidence in Swiggy’s growth trajectory, highlighting the potential of its Instamart quick commerce segment to reach a scale comparable to its core food delivery business. The brokerage views Swiggy as a significant player in India’s hyperlocal delivery market, trailing only Zomato, and sees multiple avenues for the company to achieve sustainable margins.

As of 12:07 pm, Swiggy shares were trading 13.59% higher at ₹443.00 on NSE.

Swiggy shares gain nearly 14% today – Know More

Aditya Bhagchandani — Wed, 13 Nov 2024 06:23:47 +0000

Swiggy shares had a strong listing on November 13, debuting at a 7.69% premium on the NSE at ₹420 per share, compared to the IPO price of ₹390. The stock also listed on the BSE at ₹412, a 5.6% premium. Soon after the listing, Swiggy’s shares saw a surge of 13.92%, trading at ₹444.30 as of 11:51 am, bringing the company’s market valuation to ₹89,549.08 crore.

The impressive debut came despite initial low expectations in the grey market, where the stock commanded a flat GMP. However, shortly after opening, Swiggy shares experienced volatility, dropping by nearly 5% to ₹400.45 on the NSE before rebounding. This early fluctuation highlights mixed investor sentiment in a volatile market environment.

Swiggy IPO: Check final subscription details ahead of listing today

Aditya Bhagchandani — Wed, 13 Nov 2024 03:18:04 +0000

Swiggy IPO Final Subscription Details:

Qualified Institutional Buyers (QIBs): 6.02x
Non-Institutional Investors (NIIs): 0.41x
Retail Individual Investors (RIIs): 1.14x
Employee Reserved: 1.65x
Total Subscription: 3.59x

Swiggy’s IPO witnessed strong interest from institutional investors, with QIBs oversubscribing at 6.02 times, while retail and employee reservations saw decent subscription levels. However, demand from non-institutional investors remained lower at 0.41 times. The overall subscription reached 3.59 times, indicating considerable market interest in the food delivery giant’s public offering.