Swiggy shares hit 52-week low, fall over 43 pc this year

Mumbai, May 2 (IANS) Swiggy’s share price touched a 52-week low on Friday, before recovering slightly to close at Rs 305.4, down by Rs 11, or 3.48 per cent, on the National Stock Exchange (NSE).

The stock has seen some pressure in recent weeks, with a three-day decline of 5.4 per cent, reflecting investor caution.

The company’s stock has been under pressure for several months and is showing no signs of recovery. In the last five days alone, Swiggy’s shares have fallen by Rs 17.85, or 5.52 per cent.

The trend has been even more concerning over a longer period. In the past month, the share price dropped by Rs 39.20, or 11.38 per cent.

Over the last six months, the fall has been deeper, with shares plunging by Rs 150.6, which is a 33.03 per cent drop.

On a year-to-date (YTD) basis, the stock is down by Rs 236.95 or 43.69 per cent. Additionally, the fall over the past one year is also exactly Rs 150.6 or 33.03 per cent.

However, the Indian stock markets ended higher on Friday, wrapping up the week on a positive note despite intraday volatility.

The Sensex touched an intra-day high of 81,177.93 before closing at 80,501.99, gaining 259.75 points, or 0.32 per cent.

The Nifty ended at 24,346.70, up 12.50 points, or 0.05 per cent. During the session, it moved between a low of 24,238.50 and a high of 24,589.15.

Meanwhile, the online food aggregator on Friday announced that its fast-growing food delivery service, ‘Bolt by Swiggy’, is now available in over 500 cities across the country.

Launched in October 2024, Bolt, in less than six months, already accounts for over 10 per cent of Swiggy’s total food delivery orders, the company said.

Swiggy Food Marketplace CEO Rohit Kapoor said: "It’s hard not to love Bolt when your food arrives faster, hotter, and just the way it’s meant to be enjoyed. What makes it work isn’t just the speed -- it’s the solid operations behind it.”

--IANS

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