Why are food delivery platforms Swiggy, Zomato shares falling in trade?

Swiggy and Zomato shares fell up to 4.4 per cent on Wednesday, December 11, 2024, after reports suggested that Amazon India is set to introduce a 15-minute delivery service in Bengaluru later this month. Around 9:48 AM, Swiggy shares were down 4.25 per cent at Rs 520.45 per share and Zomato shares were down 1.23 per cent at Rs 292.25 per share. In comparison, BSE Sensex was down 0.04 per cent at 81,480.50.