Finance1h ago
Swiggy shares drop 4%, market value down Rs 5,000 crore in 2 days. Here’s why
AI EXECUTIVE SUMMARY
Swiggy's share price dropped significantly over two trading sessions, reducing the company's market capitalization by approximately Rs 5,000 crore. The decline is driven by concerns over potential foreign portfolio outflows and the possibility of being excluded from major global indices. Despite the downward pressure, brokerage firm Jefferies maintains a positive outlook with a target price of Rs 435.
WHY IT MATTERS
The stock's inclusion on the NSDL red-flag list and potential index exclusions threaten Swiggy's market liquidity and foreign investment standing following its recent public debut.
Swiggy shares fell sharply on Wednesday, extending their two-session decline to 6% and erasing nearly Rs 5,000 crore in market value. The stock faces potential foreign outflows after entering the NSDL red-flag list and possible exclusion from MSCI and FTSE indices. Jefferies, however, retains a Buy rating with a Rs 435 target.
This story was originally reported by Economic Times — Markets. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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