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The shares of Swiggy’s Swiggy decreased in both the public subscription price and the latest special evaluation of it as increasing losses and the location of the frequent market in the fast trade pressed its margins in the last quarter.
The shares of the food delivery company decreased to 374.80 dollars ($ 4.29) on Thursday below the subscription price in November 390, where it pressed the market ceiling to 9.75 billion dollars, before recovering slightly to the level of the subscription price. The stock decreased after Swiggy recorded quarterly results this week, revealing that the rapid trade business in Instramart lost its share in the market.
The decrease in the market share came despite the efforts made to intensify the expansion of the store and marketing spending in an attempt to keep up with a number of fast -growing competitors.
The stock market reaction represents a change in feelings towards Swiggy, who recorded the largest technical subscriptions in the world last year and obtained a special evaluation of $ 10.7 billion in early 2022. The share price decreased is noticeable compared to the peak of the stock in mid -December (December (December) For $. 617.
Meanwhile, the Zomato Blinkit Competition Unit has recorded the value of the semester total of $ 78 billion ($ 890 million), or approximately 39.1 billion dollars ($ 446 million). On an annual basis, the total demand value of the 1.8 billion dollar Instaart demand caused the value of Blinkit $ 3.7 billion and the competitor Zepto $ 3 billion.
Bank of America analysts said they expect the competition between the fast trade companies to continue until mid -2015. Swiggy added 96 dark stores in the quarter of a total of 705 sites throughout the country, but it outperformed the addition of Plankit from 216 stores to the total 1007. Zepto built Its network quietly to more than 950 stores, according to a person who has a direct knowledge of the issue.
What makes the currently difficult dynamic is that major companies have huge war boxes. All major rapid trade platforms have strong financial support, giving them the ability to maintain long periods of spending and expanding high marketing.
However, the Swiggy cash reserves amounting to $ 82 billion ($ 936 million) are less than half of Zomato 190 billion dollars ($ 2.2 billion), although Swigy managed to increase the value of demand in rapid trade by 7 % to $ 534 ( $ 6.10) compared to the previous quarter.
Zepto raised $ 1.35 billion last year, many of which have not yet been published.
