Swiggy Shares Hit 52-Week Low as Instamart Losses Widen

23 Oct 2026, 11:52 am · 2h ago · 1 min read · Inc42New

Foodtech major Swiggy saw its shares plunge over 17% to a 52-week low of ₹174.90 following its Q2 FY27 financial results. The drop pushed Swiggy’s market capitalisation down to ₹50,099.69 crore. While consolidated net loss narrowed 16% year-on-year to ₹922 crore on operating revenue of ₹7,571 crore, quick commerce arm Instamart's adjusted EBITDA loss widened to ₹895 crore from ₹778 crore in Q1. Brokerages including Citi and CLSA reduced their target prices to ₹330 and ₹262 respectively, citing higher-than-expected Instamart losses and slowing sequential growth relative to competitors.