SWIGGY STOCK AFTER DEBUT
Swiggy’s stock made its debut in the Indian stock market in November 2024, with an IPO offer price of ₹390 per share. The stock listed at ₹420, marking a 7.69% premium on its debut. Since then, Swiggy’s share price has shown steady upward momentum and is currently trading at ₹581.70, reflecting an impressive gain of around 49% from its IPO price.
Swiggy continues to be a leading player in India’s food delivery and quick commerce segments, with strong growth potential driven by its Instamart operations and expanding user base. However, the stock faces challenges such as high competition from rivals like Zomato and increasing pressure on margins. Additionally, valuations appear elevated after the recent rally, which could lead to short-term profit booking or corrections.
For existing investors, Swiggy’s stock remains a strong hold for long-term growth, though booking partial profits at current levels could be a prudent strategy. New investors are advised to wait for a correction or price consolidation before entering, as chasing the current rally could carry higher risks.
SWIGGY STOCK AFTER DEBUT
Technical View:
- The chart indicates a steady uptrend after listing.
- Swiggy’s stock has shown higher highs and higher lows, suggesting bullish momentum.
- However, a slight consolidation near the current peak is visible, which may indicate profit booking.
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