Swiggy Shares Hit All-Time Low

SUMMARY

In the first trading session of this week, the company’s market capitalisation fell to INR 73,450 Cr with around 42 Lakh shares traded by 10:46 AM

Meanwhile, Swiggy’s competitor, Zomato was 3% lower at INR 215.25 during the morning session

The drop in both companies’ stock price coincided with a broader market downturn, as Nifty was down 0.26% at 22,068.15, and the Sensex was down 0.29% at 72,984.58 at 10:53 AM

Shares of foodtech major Swiggy dropped over 5%, hitting an all-time low of INR 317.15 during the intraday trading session on the BSE today (March 3).

In the first trading session of this week, the company’s market capitalisation fell to INR 73,450 Cr with around 42 Lakh shares traded by 10:46 AM.

At the time of writing, Swiggy’s shares were down 3.91% from the previous close (February 28) of INR 334.70 on the BSE.

Meanwhile, Swiggy’s competitor, Zomato was 3% lower at INR 215.25 during the morning session.

The drop in both companies’ stock price coincided with a broader market downturn, as Nifty was down 0.26% at 22,068.15, and the Sensex was down 0.29% at 72,984.58 at 10:53 AM.

Swiggy made its public market debut in November last year by listing at INR 412 on the BSE, a premium of almost 6% to its IPO issue price. On the NSE, it listed at INR 420 on the NSE, a premium of nearly 8% from its IPO issue price of INR 390 per share.

At the current market price, the stock has lost over 40% on a year-to-date (YTD) basis.

On the financial front, Swiggy’s consolidated net loss ballooned over 39% to INR 799 Cr in Q3 FY25 from INR 574.4 Cr in the year-ago quarter. Meanwhile, its quick commerce arm Instamart raked in a loss of INR 527.68 Cr, up 70% YoY from INR 310.36 Cr.

Recently, the company announced its plans to invest INR 1,000 Cr in its wholly owned subsidiary Scootsy Logistics Pvt Ltd. The company said that the investment is for working capital and other capital expenditures as part of the company’s business expansion.

Scootsy is an intracity online delivery service that deals in categories such as restaurant and gourmet food, toys, beauty, electronics and more to the customer’s doorstep.