Swiggy Shares Slump 7% To Hit All-Time Low

Shares of the food delivery behemoth Swiggy experienced a sharp 7% decline, plummeting to an all-time low amidst persistent skepticism among investors regarding the long-term profitability of its quick-commerce (Blinkit) operations. Since its much-anticipated IPO, Swiggy's stock value has eroded by over 40%, reflecting the market's underlying concerns about the company's substantial cash burn rate and the escalating competitive pressures arising from rivals like Zomato and the emergence of new players in the rapidly evolving food and grocery delivery landscape.