The online food delivery major, Swiggy continues to be under pressure for the fifth straight session. The Swiggy share price has falled fallen over 4% to an intraday low of Rs 359.00. The stock is under pressure as the IPO lock-in period ended on February 10 and the investors are worried about margin pressure on the Instamart segment.
Swiggy share price close to 52-week low
Swiggy share price is now hovering sharply close to its 52-week low of Rs 359.00, a sharp contrast to its 52-week high of Rs 617.30. As of now, the stock is just 1.53% away from its 52-week low. The company’s market capitalisation currently stands at Rs 82,270 crore.
Swiggy: JMFL raises concerns about Instamart margins
The brokerage firm, JMFL maintained Buy rating but has also raised concern about Instamart margins. The firm in its report said, ” In our SOTP valuation, we cut our GOV target multiple for Instamart due to sharp deterioration in its margin profile. Our revised Mar’26 TP now stands at INR 500.”
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The share price of Swiggy saw a steep 21% decline over the past week and a 26% drop in one month. On a year-to-date (YTD) basis, Swiggy share price has plummeted over 33%, slipping below its issue price.
Swiggy made its stock market debut on November 13, 2024, listing at a premium of nearly 8% over its issue price of Rs 390. On the BSE, the stock opened at Rs 412, a 5.64% rise, while on the NSE, it debuted at Rs 420, a 7.69% jump.
Furthermore, Swiggy share price faced selling pressure as the IPO lock-in period ended on February 10, making 6.52 crore pre-IPO shares, about 3% of the company’s total equity eligible for trading.
Swiggy Q3 Earnings
The online food tech giant Swiggy’s struggles deepened ahead of its Q3 earnings announcement on February 5 itself. A day prior, on February 4, the stock dropped 5.31% in anticipation of the results.
Following the earnings report, the losses accelerated further as Swiggy posted a net loss of Rs 800 crore for the December quarter,
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