Mumbai — Shares of online food delivery platform Swiggy hit a 52-week low on Friday, before recovering slightly to close at Rs 305.4 on the National Stock Exchange (NSE), down Rs 11 or 3.48%.
Investor sentiment around the stock has remained bearish, with Swiggy seeing consistent pressure in recent weeks. The stock has declined by 5.4% over the past three trading sessions alone.
In the last five days, Swiggy’s shares have fallen by Rs 17.85, or 5.52%. Over the past month, the decline deepens to Rs 39.20 or 11.38%. The six-month trajectory paints an even more concerning picture, with the stock plunging Rs 150.6 — a drop of 33.03%.
On a year-to-date (YTD) basis, Swiggy shares are down Rs 236.95, translating to a steep 43.69% decline. The one-year performance mirrors the six-month loss, with the same Rs 150.6 or 33.03% drop.
Despite Swiggy’s stock performance, Indian markets ended higher on Friday. The BSE Sensex closed at 80,501.99, up 259.75 points or 0.32%, after hitting an intraday high of 81,177.93. The NSE Nifty ended the day at 24,346.70, gaining 12.50 points or 0.05%, swinging between a low of 24,238.50 and a high of 24,589.15.
Meanwhile, in a bid to expand its market share, Swiggy announced that its express delivery service, Bolt by Swiggy, is now operational in over 500 cities across India. Launched in October 2024, Bolt has quickly gained traction and now contributes over 10% of Swiggy’s total food delivery orders, according to the company.
“It’s hard not to love Bolt when your food arrives faster, hotter, and just the way it’s meant to be enjoyed,” said Rohit Kapoor, CEO of Swiggy Food Marketplace. “What makes it work isn’t just the speed — it’s the solid operations behind it.” (Source: IANS)
