Swiggy Shares Jump 5% During Morning Trade

Shares of Swiggy jumped over 5% to reach INR 377.25 during the intraday trading session on the BSE today (March 6).

Two days back, brokerage as soon as May 2025.

The brokerage on Tuesday (March 4) reiterated its ‘BUY’ rating for Swiggy with a target price (PT) of INR 740. To note, ICICI also remained bullish for Swiggy’s counterpart Zomato but it is currently trading in red.

Zomato’s shares were trading marginally low at INR 225.4 per share at 11:30 AM on the BSE.

At the time of writing, Swiggy also pared some of its gains and was trading slightly up from its previous close of INR 358.45. Meanwhile, Swiggy’s market capitalisation stood at INR 82,395 with more than 84 Lakh shares exchanged hands by 11:30 AM.

If the stock remains in green till the close today, it will mark a three-day winning streak after touching an all time low on Monday (March 3). Notably, Swiggy’s shares recovered almost 13% since its all time low at INR 317.15 on the BSE.

The surge in the stock price today also coincided with a broader market recovery as NSE Nifty and BSE Sensex are also moving up.

Swiggy made its public market debut in November last year , a premium of almost 6% to its IPO issue price. On the NSE, it listed at INR 420 on the NSE, a premium of nearly 8% from its issue price of INR 390 per share.

The company reported its financials for the third quarter of the current fiscal (Q3 FY25) last month. Swiggy’s in Q3 FY25 from INR 574.4 Cr in the year-ago quarter.

Notably, its revenue from operations also increased nearly 31% to INR 3,993.1 Cr during the quarter under review from INR 3,048.6 Cr in Q3 FY24.

Meanwhile, the All India Consumer Products Distributors Federation (AICPDF) has filed a petition with the Competition Commission of India (CCI) against quick commerce players including Swiggy’s Instamart, Blinkit and Zepto. The distributor’s body alleged the , as per a Business Standard report.

Swiggy closed the trading session on Thursday 1.19% up at INR 362.70 on the BSE.

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