Swiggy shares suffer losses of ₹1,065 crore due to stock market devastation ahead of Budget.

News Topical, Digital Desk : The Indian stock market is witnessing a significant decline in the trading session ahead of the Union Budget 2026. The Sensex and Nifty are trading in the red. The impact of the market decline and the performance of quarterly results is visible on many stocks. Swiggy shares fell by almost 8 percent today. Swiggy released its October-December quarter results on Thursday, January 29.

Food delivery and quick commerce platform Swiggy suffered a loss of ₹1,065 crore in the last quarter. This is higher than the ₹799 crore loss it reported in the same quarter last fiscal year. This is why the impact was clearly visible in the stock market today.

Swiggy Share crashes due to market havoc and losses

Swiggy shares fell nearly 8% on Friday after its quick-commerce arm Instamart reported widening losses for the December quarter, while global brokerage CLSA downgraded the stock. While the company's losses widened, revenue from operations rose 54% to ₹6,148 crore compared to ₹3,993 crore in the same quarter last year.

Swiggy shares fell 7.78 percent to an intraday low of ₹302.15 per share on the NSE. The stock opened gap-down, falling 5.69 percent in early trade, and then extended losses. The decline came after three consecutive sessions of gains.

In the previous session, the stock closed at Rs 327. While valuations are supportive, re-rating depends on clear profit visibility.

Brokerage reactions to the quarterly performance were mixed. CLSA downgraded Swiggy to 'hold' and cut its price target to Rs 335 after the company missed revenue and Ebitda estimates in the third quarter.

Morgan Stanley cuts Swiggy's target price

Overseas brokerage firm Morgan Stanley has maintained its Equal Weight rating on Swiggy but reduced its target price to Rs 375 from Rs 414 previously. The reduction in target price is due to higher QC losses and lower long-term margin estimates.

Food delivery operations remained stable, with GOV growth remaining in the 18-20 per cent range, while adjusted Ebitda margin expanded to 3 per cent, while the medium-term target of 5 per cent remains intact. Quick commerce growth slowed as Swiggy prioritised quality over scale, with CM breakeven for QC maintained for Q1FY27, but visibility on re-rating remains limited, Morgan Stanley said.

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