Here is why Swiggy shares were buzzing in trade on Wednesday, April 16

Swiggy has signed a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment as part of its overall approach to increase job creation through public-private partnership

Shares of food and grocery delivery platform company, Swiggy, were ruling higher on the bourses on Wednesday, April 16. The company's shares climbed 2 per cent to a day's high of ₹340.40 apiece during the intra-day deals on Wednesday.

 

The northward movement in Swiggy's share price came on the back of the news that the company has signed a Memorandum of Understanding (MoU) with the Ministry of Labour & Employment as part of its overall approach to increase job creation through public-private partnership. With this collaboration, the company aims to create over 12 lakh job opportunities in the next 2–3 years. These jobs will be listed on the government’s National Career Service (NCS) portal.

 

 

"Ministry of Labour & Employment and Swiggy signed a Memorandum of Understanding (MoU) in New Delhi today, marking a significant step toward strengthening employment linkages in the gig and logistics sector through the National Career Service (NCS) portal. The MoU was signed in the presence of Union Minister of Labour & Employment, Mansukh Mandaviya and Union Minister of State for Labour & Employment, Sushri Shobha Karandlaje," said Ministry of Labour and Employment in a release on Tuesday, April 15.

 

Swiggy is a technology company offering food delivery, grocery, and household item services through its platform. The company has expanded its services to over 500 cities, including food delivery, Instamart, and Genie. Swiggy has also acquired DineOut and introduced restaurant discovery, bookings, and payment services.

 

As of April 16, Swiggy's market capitalisation stands at ₹76,917.22 crore on the BSE.

 

The company's shares made their D-Street debut by listing at ₹412 apiece on the BSE, and ₹420 apiece on the NSE, on Wednesday, November 13, 2024, following the closure of its initial public offering.

 

Swiggy shares have declined nearly 37 per cent year-to-date. In comparison, the benchmark Nifty50 has dropped 2 per cent during the same period.

 

The company's shares scaled their 52-week high of ₹617.30 per share on the NSE on December 23, 2024, while they fell to their 52-week low of ₹305.80 per share on April 7, 2025.

 

Swiggy shares, however, pared the initial gains, but continued to trade higher on the bourses. At around 11:03 AM on Wednesday, the company's shares were trading at ₹337.35 apiece, up 1.03 per cent from the previous close of ₹333.90 on the BSE.

 

At the same time, the benchmark equity indices were trading lower. The BSE Sensex was down by 172 points, or 0.22 per cent, at 76,562 levels, while the Nifty50 traded 52 points, or 0.23 per cent lower, at 23,275 levels.