Motilal Oswal cuts Swiggy price target on slower path to profit
Motilal Oswal lowered its Swiggy target to ₹280 from ₹360 and kept a buy rating after the September quarter results.
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what happened
According to TradingView, brokerage Motilal Oswal cut its price target on India's Swiggy Ltd. to ₹280 from ₹360 while keeping a buy recommendation. The move follows September quarter results in which the food delivery and quick-commerce company again reported a net loss.
The brokerage says Swiggy is growing more slowly than rival Eternal in both food delivery and quick commerce. Instamart's net order value rose just 37% in the first half of the fiscal year, against 83% for Blinkit. Orders per dark store per day were 1,611 at Blinkit and 1,168 at Instamart.
The shares are down 46% so far this year and closed Thursday at ₹211.4, below the ₹390 IPO price.
why it matters
The cut suggests the market may have to wait longer for Swiggy's quick-commerce unit to reach sustained EBITDA profitability. Investors will watch whether the company can hold market share amid intense competition.
market impact
Swiggy shares: weaker Instamart growth pressures the company's valuation
tags
instruments
sources
- Swiggy share price target cut by Motilal Oswal on longer path to profitability after Q2 results — TradingView, 23 October 2026 at 00:57 UTC
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