Swiggy Ltd.'s share price fell nearly 3% on Monday, following multiple large deals involving 6,20,728 shares, executed within the price range of Rs 380 to Rs 389. This decline comes after a significant trading activity that impacted the stock's performance.
Earlier on Friday, Swiggy's share price had surged by 6.6%, following the company's announcement of its entry into the lifestyle and travel concierge segment with the launch of a new app called Crew. This move marks Swiggy's latest attempt to tap into India's growing premium consumer base.
The Crew app is designed to offer highly personalised services, including securing international driving permits, planning bespoke travel, and sourcing curated gifts within specified budgets. It is now available on both the Apple App Store and Google Play Store, aiming to provide a comprehensive concierge experience to its users.
Swiggy Share Price
The scrip fell as much as 2.94% to Rs 378.05 apiece. But, it later recovered some losses to trade 0.15% higher at Rs 390.10 apiece, as of 11:28 a.m. This compares to a 0.65% decline in the NSE Nifty 50.
It has declined 14% in the last 12 months. The relative strength index was at 71.
Out of 23 analysts tracking the company, 17 maintain a 'buy' rating, three recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 8.4%.
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