SWIGGY (SWIGGY)
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Swiggy sinks 16% to record low as quick-commerce losses widen
Listen to this article in summarized format Morgan Stanley said investors would continue to question Swiggy's execution and strategic choices until the company demonstrated consistent performance. It said the strategy of increasing store density and accelerating dark-store additions could drive growth in monthly transacting users (MTUs), but investors would look for sustainable growth even with more normalised discounting.
Jio Platforms IPO hits 1 crore applications, a global first
Jio Platforms' mega IPO closed its final day as the first public offer anywhere to cross 1 crore applications, drawing record retail participation. The issue's scale has raised questions about whether it will drain liquidity from the broader market, with experts weighing in. Heavy rain in Southern India and a Swiggy outage added operational noise on the closing day.
Swiggy loses ₹9,000 crore market value as Instamart losses widen
Swiggy shares plunged on Friday, wiping out around ₹9,000 crore in market value as widening Instamart losses overshadowed food delivery growth. Following Q2 results, brokerages cut their price targets, citing deteriorating quick-commerce profitability. Instamart’s adjusted EBITDA loss widened to ₹895 crore from ₹778 crore, while its contribution margin deteriorated to -1.4% despite 13.4% sequential growth in net order value..
Swiggy Plunges 10% on Weak Q2 as Infosys Climbs 3% Pre-Earnings
Swiggy shares tumbled as much as 10% to a fresh low after its Q2 results fell short of expectations, prompting Jefferies, Nomura, and Bernstein to cut target prices. Meanwhile, Infosys gained 3% ahead of its Q2 earnings announcement, with investors positioning for the results. Both stocks remain in focus as the Q2 reporting season intensifies.
Swiggy shares slide 5% ahead of Q2 results, hit record low
Swiggy shares fell over 5% ahead of its Q2 results, with the stock now down 26% in a month and 46% below its IPO price. Analysts remain divided on the outlook as the company prepares to report earnings. The stock hit a record low amid the selloff.
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