Swiggy Shares Rise 4% as Market Declines, Ending Eight-Day Losing Streak

Swiggy Share Price Stages Rebound, Defying Broader Market Sell-Off

Market Overview On March 4, Swiggy's shares experienced a rebound, rising 4% to an intraday high of ₹300.20 apiece, after eight consecutive sessions of losses. The stock had opened the session at ₹280, marking a fresh all-time low.

Recent Performance The shares have been under prolonged pressure in recent months, following the company's widened net loss in the December quarter. Swiggy reported a consolidated net loss of ₹1,065 crore in Q3FY26, wider than the net loss of ₹799 crore recorded in the year-ago period. Revenue from operations rose 54% year-on-year (YoY) to ₹6,148 crore from ₹3,993 crore.

Analyst Views Domestic brokerage firm Motilal Oswal Financial Services Ltd (MOFSL) believes near-term growth in quick commerce could moderate for Instamart due to aggressive competition. However, improving unit economics provides visibility on gradual margin improvement. MOFSL values Swiggy's food delivery business at 35x FY27E EV/EBITDA and reiterated its 'Buy' rating on the stock while cutting the target price to ₹440 apiece.

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Target Price Estimates Nuvama Institutional Equities has also lowered its quick commerce growth estimates, noting that management is prioritising higher-quality user acquisition and higher AOV orders, while revising supply chain growth projections. Nuvama maintained a 'Buy' rating, but reduced the Swiggy share price target to ₹490 apiece from ₹510 earlier.

Share Price Trend The shares have fallen 22% over the last two months, including a 20% decline in January, followed by a further 2.6% drop in February. The recent sell-off has dragged the stock down 52% from its record high of ₹617.30 apiece, touched in December 2024. At current levels, the stock is trading 23.6% below its IPO price of ₹390 and 34% below its listing price of ₹456 apiece.