Swiggy Share Price / The share price of this company reached 52 Week Low, there was panic among investors

Swiggy Share Price: Shares of Swiggy, a company that takes and delivers food items online, registered a big decline on Thursday. As soon as the market opened, the company's shares fell by a huge 7.40% to Rs 387.00 and reached its new 52-week low. However, by 9:52 am, some recovery was seen in the shares and it was trading at Rs 402.80.

Decline trend in Swiggy shares

Swiggy shares, which closed at Rs 418.10 on Wednesday, opened at Rs 387.95 on Thursday. The market continued to fluctuate throughout the day, and the stock also reached an intraday high of Rs 410.75 after reaching an intraday low of Rs 387.00.

It is worth noting that the 52-week high of the company's shares is Rs 617.00. Swiggy shares, which were listed in November last year, are going through a difficult phase at this time. The company had allotted shares at a price of Rs 390 under the IPO, but the current price has gone below the issue price.

Main reasons for the decline

• The company's weak financial results are the main reason behind this decline in Swiggy shares. According to the results of the third quarter of FY 2024-25 released on Wednesday:
• The company's total loss increased to Rs 799 crore in the December quarter of the current financial year, from Rs 574 crore in the same quarter last year.
• However, during this period, operational revenue grew by 31% to Rs 3993 crore, from Rs 3049 crore in the same quarter last year.

What should be the strategy of investors?

Swiggy shares are witnessing constant fluctuations. Despite poor financial results, the company's revenue has grown well, which advises investors to take a long-term view. In the near future, it will be important to keep an eye on the market trends and the company's next quarter results.