Swiggy Ltd. shares rose nearly 4% on Tuesday after the company appointed former Myntra CEO Nandita Sinha as the new Chief Executive Officer of Instamart, signaling a leadership reset at its quick commerce business.
The stock climbed as much as 3.95% to Rs 280 during the session before trading around Rs 279, extending gains after the announcement. Even after the rally, Swiggy remains down nearly 28% so far in 2026 and more than 32% over the past 12 months.
The leadership change follows the resignation of Amitesh Kumar Jha, who stepped down as CEO of Instamart with immediate effect. Swiggy has appointed Nandita Sinha, most recently the CEO of Myntra, to lead the business from August 3.
Sinha brings more than two decades of experience across consumer internet and FMCG, having held leadership positions at Myntra, Flipkart, Britannia Industries and Hindustan Unilever. Her appointment comes as Swiggy looks to strengthen execution at Instamart amid fierce competition from rivals including Blinkit and Zepto.
In announcing the appointment, Swiggy Group CEO Sriharsha Majety described Sinha as one of India's most accomplished consumer internet executives, citing her customer-first approach and operational expertise. He also credited outgoing CEO Amitesh Jha with scaling Instamart during a critical growth phase, including improving contribution margins and launching new initiatives such as Noice.
Earlier, Morgan Stanley said a change at the top could provide a strategic refresh for Instamart, potentially helping the business regain lost market share while maintaining its focus on profitability. The brokerage noted that although recent leadership churn could raise investor concerns, new leadership may improve execution and reposition Instamart for its next phase of growth.
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