Swiggy Share crushed due to the devastation in the stock market before the Budget, stocks crashed due to loss of Rs 1065 crores
New Delhi. A big decline is being seen in the Indian stock market in the trading session before Union Budget 2026. Sensex and Nifty are trading in the red. The impact of the market decline and quarterly results performance is visible on many stocks. Swiggy Shares Falls fell by about 8 percent today. On Thursday, January 29, Swiggy released its October-December quarter results.
Food delivery and quick commerce platform Swiggy suffered a loss of Rs 1,065 crore in the last quarter. This is more than the loss of Rs 799 crore in the same quarter of the last financial year. This is the reason why its effect was clearly visible in the stock market today.
Swiggy Share crashes due to market devastation and losses
Swiggy shares fell nearly 8 per cent on Friday after its quick commerce company Instamart reported widening loss in the December quarter, while global brokerage CLSA downgraded the stock. The company's losses may have increased, but revenue from operations increased by 54% to Rs 6,148 crore compared to Rs 3,993 crore in the same quarter last year.
Swiggy shares fell 7.78 per cent to intraday low of Rs 302.15 per share on NSE. The stock opened a gap-down, falling 5.69 percent in early trading, and losses widened thereafter. This decline came after three consecutive sessions of gains.
The stock had closed at Rs 327 in the last session. Valuations are supported, but re-rating depends on clear profit visibility.
Brokerage reactions to the quarterly performance were mixed. CLSA downgraded Swiggy to 'Hold' and cut its price target to Rs 335 after the company missed Q3 revenue and EBITDA estimates.
Morgan Stanley reduces Swiggy's target price
Overseas brokerage firm Morgan Stanley has maintained its equalweight rating on Swiggy, but reduced its target price to Rs 375 from Rs 414 earlier. This cut in target price is due to higher QC losses and lower long-term margin estimates.
Food delivery business remained stable, GOV growth remained in the 18-20 per cent range, while Adjusted EBITDA margin expanded to 3 per cent, while maintaining the medium term target of 5 per cent. Quick Commerce growth slowed as Swiggy prioritized quality over scale, CM breakeven for QC maintained for Q1FY27, but visibility on re-rating remains limited, Morgan Stanley said.
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(Disclaimer: Information about a single share is given here. This is not investment advice. Jagran Business is not giving investment advice. Investing in the stock market is subject to market risks, so please consult a certified investment advisor before investing.)
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