Swiggy shares crash 14%, hit 52-week low after Q2 results. Here’s why Jefferies, Nomura, Bernstein cut target price
Swiggy experienced a notable decline in share prices after announcing a Rs 922 crore loss for the quarter. Revenue from operations rose 36% year-on-year to Rs 7,571 crore, indicating some growth potential. However, the company's adjusted EBITDA loss widened, raising concerns among investors regarding its financial health. Analysts have revised target prices downward, citing challenges in the quick commerce segment.
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