Swiggy soars 10% on heavy volumes; logs sharpest intra-day rally in 2025

The average trading volumes at the counter jumped nearly eight-fold; with a combined 33.3 million equity shares representing 1.5% of the total equity of the company changing hands on the NSE and BSE.

Swiggy’s share price today

 

Shares of food and grocery delivery platform company, Swiggy, surged 10.5 per cent to ₹ 337.55 on the BSE in Monday’s intra-day trade amid heavy volumes. In doing so, the stock price of the company recorded its sharpest intra-day rally in the calendar year 2025 (CY25). Earlier, on December 16, 2024, the stock had rallied 15 per cent in intra-day trade.

 

At 03:00 pm; Swiggy quoted 10 per cent higher at ₹ 336.85, as compared to 0.44 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped nearly eight-fold; with a combined 33.3 million equity shares representing 1.5 per cent of the total equity of the company changing hands on the NSE and BSE.

 

Swiggy expands 10-minute food delivery service 'Bolt' to over 500 cities

 

Swiggy on Friday said its 10-minute food delivery service 'Bolt', which was launched in October last year, is now operational in more than 500 cities across the country.  Presently, at least one in every 10 food delivery orders delivered by Swiggy are delivered using the 'Bolt' service. The offering is now available in over 500 cities across India.

 

At its core, Bolt is a breakthrough in operational intelligence. It combines smart backend optimization with a curated menu of quick-serve, high-demand items that have minimal or no preparation time. Popular QSR brands like KFC, McDonald’s, Subway, Faasos, Burger King, and Curefoods are already live on Bolt, alongside a fast-growing roster of local favourites.

 

Past price performance of Swiggy

 

Between April 23, 2025 and May 2, 2025, share price of Swiggy had dipped 12 per cent from ₹ 347.85 to ₹ 305.35. It had hit an all-time low of ₹ 303.05 on Friday. The stock had hit a record high of ₹617 on December 23, 2024. Swiggy made its stock market debut on November 13, 2024. Currently, the stock quotes 13 per cent below its issue price of ₹390 per share.

 

Key reasons for the sharp underperformance in stock price

 

Swiggy’s share price has underperformed the market amid concerns of rising losses in the quick commerce business and margins slowdown in the food delivery unit.  

 

Swiggy's pre-IPO lock-in is set to expire on May 12, 2025. Market participants fear possible exit of some of these pre-IPO shareholders.

 

JM Financial Institutional Securities sees 12-month target price of Rs 500 per share on Swiggy

 

The brokerage firm expects Swiggy’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss in its quick commerce business (Instamart) to jump in the near term. The loss is likely to increase from ₹ 580 crore in December 2024 quarter (Q3) to ₹ 780 crore in March 2025 quarter (Q4) on account of a sharp ramp-up in its dark store count as well as high competitive intensity. While analysts expect these losses to meaningfully come down starting June 2025 quarter (Q1FY26) onwards, the high base of fixed costs means that the path to eventual break-even at adjusted EBITDA level will take some time.

 

Swiggy's stock is likely to be volatile in the near term on account of market speculation around possible exits by some pre-IPO shareholders whose lock-in is set to expire on May 12, 2025. So, a sizeable proportion of Swiggy’s shares can get traded in the near term, according to analysts.

 

While the brokerage firm said they cannot accurately predict when these shareholders will exit, or whether they will even exit, it is pertinent to note that several of them are already sitting on significant unrealised gains. While a few had partly liquidated their positions pre-IPO as well as during the IPO, analysts believe at least some investors will be eager to liquidate their holding despite the fact that the stock is trading below its IPO price. So, a sizeable proportion of Swiggy’s shares can get traded in the near term.

 

However, long-term investors can use these liquidity events to build a sizeable position in Swiggy as, at current market price, the market seems to accord value to only its food delivery business, whereas Instamart and other businesses are not getting any meaningful value, the brokerage firm said with maintain ‘Buy’ rating on Swiggy, with a March 2026 target price of ₹ 500 per share.

 

“While we see near-term pressures on the stock price due to volatility on account of lock-in expiry, long-term investors with a strong positive conviction on India’s hyper local delivery market opportunity can use these liquidity events to build a sizeable position,” analysts said.

 

About Swiggy 

 

Founded in 2014, Swiggy is India’s pioneering on-demand convenience platform, catering to millions of consumers each month. With an extensive footprint in food delivery, Swiggy Food collaborates with over 2 lakh restaurants across 700+ cities. Instamart, its quick commerce platform operating in 100+ cities, delivers groceries and other essentials across 20+ categories in 10 minutes.