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Swiggy Stock Surges on Food Delivery Expansion
10 Jul
Summary
- Swiggy's stock price increased by over 7% due to network expansion.
- Food on Train orders saw a threefold increase year-on-year.
- Foreign shareholding in Swiggy has fallen below 50%.
Swiggy's stock climbed more than 7% in recent trading after the company revealed its Food on Train network now serves 180 cities. This expansion coincides with a significant threefold increase in orders for the Food on Train service during the April-June quarter of 2026, compared to the same period last year.
Customers are increasingly utilizing the service for multi-station journeys, with orders growing over 300% year-on-year. These passengers also tend to spend more, approximately 2.2 times higher than single-stop orders. The Bhopal-Nagpur route was highlighted as the most popular for dual-station orders.
In separate news, Swiggy's aggregate foreign shareholding has fallen below 50% as of July 6, 2026. This marks a shift where domestic ownership now exceeds foreign ownership, though the company stated this change does not affect its operational status or control.
Despite growth, analysts at JM Financial maintain a 'Reduce' rating, citing concerns over continued losses in certain segments and valuing the core food delivery business specifically. Technical analysts observe a short-term momentum improvement but note the broader trend remains weak.
