Swiggy Shares Drop 5% During Intraday

SUMMARY

The fall in Swiggy’s share price led to a decline in its market capitalisation to INR 99,406 Cr

More than 38 Lakh shares of Swiggy traded hands by 11:32 AM

On a year-to-date basis, the stock declined over 19%

Shares of foodtech major Swiggy crashed nearly 5% to INR 437.05 during the intraday trading session on the BSE today (February 4). 

The fall in its share price led to a decline in its market capitalisation to INR 99,406 Cr with more than 38 Lakh shares traded hands by 11:32 AM. 

On a year-to-date basis, the stock declined over 19%, and in the last six months it dropped almost 4% at the current market price. 

Swiggy’s competitor Zomato also saw a drop in its share price today. 

The recent fall in share price came after it touched INR 459 apiece on the BSE during intraday yesterday (February 3) after brokerage firm Kotak Institutional Equities initiated a ‘buy’ rating on the company’s stock. Kotak suggested a fair value (FV) of INR 500 for Swiggy in its note. 

On the financial front, the company expects its business to achieve adjusted EBITDA profitability on a consolidated level in the third quarter of the financial year 2025-26 (FY26).

It further expects adjusted EBITDA break-even in its quick commerce business by the second quarter of FY27 (July-September 2026).

In the second quarter of FY25, the foodtech major trimmed its consolidated net loss by 4.78% to INR 625.53 Cr from INR 657 Cr in the year-ago quarter. Its operating revenue zoomed 30% to INR 3,601.45 Cr during the quarter under review from INR 2,763.33 Cr, a year ago.

Swiggy made its market debut on the exchanges in November last year. The stock was listed at INR 420 on the NSE, a premium of nearly 8% from its IPO issue price of INR 390 per share. Meanwhile, shares started trading at INR 412, a premium of almost 6% on the BSE.

The stock closed last trading session (Tuesday) at INR 458.30 on BSE. 

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