Why Did Swiggy Shares Plunge to a 52-Week Low?
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Synopsis
Swiggy's stock struggles continue as it hits a 52-week low, a sign of investor caution. Discover the latest updates and the implications for the online food delivery giant.
Key Takeaways
- Swiggy's stock hit a 52-week low.
- Year-to-date decline of over 43%.
- Bolt service launched in over 500 cities.
- Investor caution reflected in stock performance.
- Overall market ended positively despite Swiggy's struggles.
Mumbai, May 2 (NationPress) Swiggy's shares hit a 52-week low on Friday, ultimately closing at Rs 305.4, which is a decline of Rs 11 or 3.48% on the National Stock Exchange (NSE).
The stock has faced mounting pressure recently, recording a three-day decline of 5.4%, indicating growing caution among investors.
For several months, the company's stock has struggled, showing little indication of recovery. Over the last five days, Swiggy's shares have decreased by Rs 17.85, or 5.52%.
The situation appears more alarming over a more extended period. In the past month alone, the share price has dropped by Rs 39.20, equating to 11.38%.
In the past six months, the decline has been even steeper, with shares plummeting by Rs 150.6, representing a 33.03% drop.
Year-to-date (YTD), the stock has fallen by Rs 236.95 or 43.69%. Moreover, the one-year decline is also precisely Rs 150.6 or 33.03%.
Despite these challenges, the Indian stock markets concluded positively on Friday, ending the week on an upswing amid intraday volatility.
The Sensex reached an intraday peak of 81,177.93 before settling at 80,501.99, gaining 259.75 points or 0.32%.
The Nifty finished at 24,346.70, up 12.50 points or 0.05%. During the session, it fluctuated between a low of 24,238.50 and a high of 24,589.15.
In other news, the online food aggregator announced that its rapidly expanding food delivery service, 'Bolt by Swiggy', is now operational in over 500 cities nationwide.
Launched in October 2024, Bolt has quickly captured over 10% of Swiggy's total food delivery orders in less than six months, as reported by the company.
Swiggy Food Marketplace CEO Rohit Kapoor remarked, "It's hard not to love Bolt when your food arrives faster, hotter, and exactly as it should be enjoyed. Its success isn't only about speed—it's the robust operations that support it.”
Point of View
We must remain rooted in the facts. The share price decline is a reflection of broader market sentiments and investor confidence. However, Swiggy's proactive approach in expanding its services demonstrates resilience. At NationPress, we stand committed to providing balanced coverage of these developments.
NationPress
03/05/2025
Frequently Asked Questions
What caused Swiggy's share price decline?
Investor caution and market volatility have led to Swiggy's share price dropping significantly over recent months.
How much has Swiggy's stock dropped this year?
Year-to-date, Swiggy's stock has decreased by Rs 236.95, or 43.69%.
What is Bolt by Swiggy?
Bolt is Swiggy's fast-growing food delivery service, recently launched and now operational in over 500 cities.
How has the overall stock market performed?
Despite Swiggy's struggles, the Indian stock markets finished positively, with the Sensex and Nifty both gaining.
What does the future hold for Swiggy?
While current stock performance is concerning, Swiggy's expansion of services like Bolt may help improve investor sentiment.
