Swiggy shares fall below issue price; stock plunges 28% thus far in January

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Swiggy shares fall below issue price; stock plunges 28% thus far in January - Business Standard

Quick Summary:

Swiggy share price fell 5 per cent to Rs 389.25 on the BSE in Tuesday's intraday trade, falling below its issue price of Rs 390 per share.

The key monitorable is visibility as regards posting break-even in quick commerce in a highly competitive environment (given the entry of large ecommerce players)," analysts at the brokerage said.

Swiggy Instamart, its quick commerce platform operates in over 75 cities, delivering groceries and other essentials across more than 20 categories in 10 minutes.