Swiggy Surges Ahead: Biggest Gainer in a Volatile Week for Tech Stocks as FirstCry Stumbles

Swiggy was the top performer in otherwise a dismal week for new-age tech stocks, with its stock rising nearly 7% in two days and ending the week at ₹389, indicating investor confidence and positive mood. The record trading volume of the food delivery giant was the highlight while other tech stocks such as FirstCry plummeted.

 

Key Highlights:

 

Swiggy shares jumped sharply, outpacing sectoral peers and touching an intraday high of ₹380.8 on June 19, 2025.

 

The rally was boosted by positive market mood, strong revenue growth, and inclusion of Swiggy in top indices like NIFTY NEXT 50 and NIFTY 100.

 

On the other hand, FirstCry and other new-generation technology shares declined steeply, reflecting overall market volatility and selective investor demand.

 

Swiggy's enhanced financials, robust performance, and expanding market share have rendered it increasingly attractive to institutional and retail investors.

 

Prospects: With Swiggy's momentum and investor sentiment still strong, the firm is well-positioned to benefit from sector tailwinds. However, the midterm mixed bag of peers predicts that selectivity and fundamentals will still rule India's evolving tech stock landscape.

 

Sources: Business Standard, Moneycontrol, Economic Times