Swiggy Sizzles: Shares Jump 3.9% as Market Appetite Grows

Image Source : Republic World

Swiggy Ltd. extended its rally on July 22, with shares climbing 3.9 percent to Rs 405.25 on the NSE. This marks a continuation of the foodtech giant’s strong postlisting performance, driven by narrowing losses, robust revenue growth, and investor confidence in its quick commerce strategy.

Key Highlights:

Swiggy shares surged over 25 percent in two sessions earlier this month, crossing Rs 1.07 lakh crore in market capitalization
The stock hit an intraday high of Rs 489.25, up 7.3 percent from the previous close
Recent gains follow strong Q2 results: revenue rose 30 percent YoY to Rs 3,601.5 crore, while losses narrowed to Rs 625.53 crore

Growth Drivers:

Bolt, Swiggy’s 10minute food delivery service, expanded to over 400 cities
Instamart’s GOV jumped 24 percent QoQ, with 12 new cities and 52 stores added
Monthly transacting users rose 19.2 percent YoY to 17.1 million

Investor Sentiment:

Brokerages like JM Financial and UBS initiated coverage with bullish outlooks, citing strong execution and category leadership
Swiggy plans to invest Rs 1,600 crore in Scootsy Logistics and expand Instamart’s dark store network
Analysts expect food delivery orders to grow at 12.5 percent annually, with quick commerce outpacing at 23.6 percent

Outlook:

Swiggy’s strategic expansion and improving financials continue to attract institutional interest, positioning it as a key player in India’s evolving consumption landscape.

Source: Fortune India, Economic Times, Moneycontrol