BusinessPhoto: News18Hi BusinessSwiggy Shares Fall Over 14% After Q3 Results, Brokerages Cut Targets
Swiggy shares dropped more than 14% on October 23 following its September quarter results. The company's growth in food delivery and quick commerce lagged behind competitor Eaternal. Concerns also rose over Instamart's growth and time to profitability. Brokerages including Motilal Oswal, Citi, and HSBC lowered their target prices. Experts remain optimistic about long-term earnings from the food delivery business.
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