Swiggy shares plunge 8%. 2 reasons why stock is falling…

Swiggy’s share price plummeted 7.8% to hit a fresh 52-week low of Rs 385.25 on Thursday. The stock lost 6.5% in the pre-open session implying an open at Rs 391. The fall in stock price came after the company’s net profit declined in the third quarter of FY25 on the back of dark store addition and increased competition.

Nuvama sees dark store expansion as headwind for Q4

Nuvama Institutional Equities, in a research note, said that the dark store expansion accelerated in the second half of the quarter and picked up further in January, creating a headwind for the next quarter. Swiggy’s growth was in line with expectations, but margins dipped significantly below consensus.