Swiggy share price: Food delivery aggregator Swigi shares are under pressure to sell for the third consecutive day today. In these three days, it fell nearly 12 percent and fell below the issue price today. Its stocks were released at Rs 390 to IPO investors and today it fell 5.01 per cent to Rs 389.25 on BSE in intra-day. Although there was a purchase and shares recovered at the lower level, it is still built in the negative zone. Currently, it is at a price of Rs 405.40 with a decline of 1.12 per cent.
It is currently more than 34 per cent of downside from record high. On 23 December 2024, it reached a record high of Rs 617.00. Its shares were entered on 13 November 2024 in the domestic market. Of the 15 analysts covering it, 15 have purchased it, 2 holds it and three have sales rating.
SWIGGY fall is connection with Zomato
The fall in Swiggy’s shares is a connection with Jomato. Ever since Jomato has results the results of the December quarter, its shares are under pressure, Swiggy is also struggling with the pressure of selling. Jomato has spoken of lethargy in the core business of food delivery and also said that it can remain in a loss in the Near Term due to the aggressive trend to achieve the target of 2 thousand dark stores of the blinkit. This broke Jomato, as well as Swiggy. Swiggi has not yet released the results of the December quarter.
What is the condition of Jomato shares
Talking about Jomato, its shares are currently up 2.30 per cent at ₹ 210.90 on BSE. It jumped 2.43 per cent to Rs 211.15 in intra-day. However, it is about 31 per cent of dyntes from record high. Last year, on 5 December 2024, it reached a record high of Rs 304.50. A year ago on 29 January 2024, it was a one -year record low at Rs 132.40.
ZOMATO Q3 Results: Jomato shock in December quarter, profit decreased by 57%
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