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Swiggy Q4 Results Review: HDFC Securities Upgrades The Stock To 'Buy', But Cuts Target Price — Here's Why
Post ~50% stock price correction over the past five months, value is emerging as at CMP, HDFC Securities is paying ~Rs 75 billion (<$1 billion) for the Instamart business.
12 May 2025, 11:17 AM IST 
Swiggy’s food delivery gross order value declined 1.2% QoQ (+17.6% YoY) to Rs 73.5 billion as Q4 is seasonally a weak period (Zomato’s GOV also declined 1.4% QoQ).
(Photographer: Vijay Sartape/NDTV Profit)
While the food deliver remains stable; execution gap in quick commerce has widened vs Blinkit. However, post a ~50% price correction over five months, value is emerging as at CMP, we are paying ~Rs 75 billion (<$1 billion) for the Instamart business.
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