Shares of food tech giant Swiggy surged as much as 11.35% during intraday trading to reach an all-time high of INR 576.95 on the BSE.
Swiggy stock surges 11.35%, reaching fresh 52-week high
This marks a fresh 52-week high for the stock. The stock has been witnessing a bull run lately, with its last four trading sessions ending in the green.
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Reportedly, the company’s market capitalization stood at 1,26,472 Cr ($14.9 Bn) by 11:30 PM, with as many as 26.6 Cr Swiggy shares traded hands by then. The recent uptick in share price is attributed to Swiggy’s robust September quarter results.
Swiggy narrows net loss to INR 625 Cr
Meanwhile, Swiggy narrowed its consolidated net loss by 4.78% year-on-year to INR 625.53 Cr in Q2 FY25. Its quick commerce business wing, Swiggy Instamart, saw its operating revenue surge 135.7% to INR 490 Cr in Q2 FY25 from INR 208 Cr in the year-ago period.
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On the adjusted EBITDA level, the company expects its business to achieve adjusted EBITDA profitability on a consolidated level in the third quarter of the financial year 2025-26 (FY26). It also anticipates achieving adjusted EBITDA break-even for its quick commerce business by the second quarter of FY27 (July-September 2026).
Further, the foodtech giant entered the bourses on November 8 with its shares listing at INR 412, an 8% premium over the IPO issue price. Notably, its stock has witnessed an upsurge of 25.75% at the previous close mark since listing.
