Swiggy shares surged nearly 8% on Tuesday, July 22, as strong earnings from Eternal (formerly Zomato) lifted investor mood in India’s food delivery and quick commerce space. The rally signals growing trust in the future of this fast-growing sector.
Swiggy shares touched an intraday high of ₹426.30, marking a 7.9% rise on the NSE. At 10:03 a.m., they traded at ₹414, up 4.8%, and by 12:10 p.m., Swiggy stood at ₹408.60, gaining 3.51%.
What sparked the rise in Swiggy shares?
The trigger was Eternal’s strong Q1 performance. Eternal reported a 70% jump in revenue for April to June, thanks to the success of Blinkit, its quick commerce arm. On Monday, Eternal’s stock rose 15% and continued climbing on Tuesday.
This strong performance sent a positive signal across the sector. Investors see Swiggy as another big player ready to ride the quick commerce wave. Even Zomato shares saw a 14% gain. This rising tide lifted all boats.
Quick commerce is the new buzz
Quick commerce is changing how India shops. From groceries to essentials, people now want faster deliveries. Swiggy’s Instamart is one of the key players in this space. With Eternal’s Blinkit showing such strong numbers, the market expects Swiggy to benefit too.
Investors are betting big on fast delivery platforms. They believe this is not just a trend but a shift in how Indians buy daily items.
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Technicals say Swiggy looks strong
Looking at charts, Swiggy shares are showing strong bullish signals. The Relative Strength Index (RSI) is at 60.8. This means buying activity is healthy but not overheated.
Also, Swiggy shares are trading above key moving averages like the 5-day and 150-day SMA. This points to strong momentum.
Market experts say Swiggy is well-positioned to grow more in both food delivery and quick commerce. But they also warn to keep an eye on market valuation and broader economic conditions.
A sector ready to grow
India’s digital commerce sector is growing fast. Food delivery and quick commerce are leading the charge. More people are ordering food and groceries online. As competition grows, so does innovation.
With Eternal’s strong Q1 showing, investors are again paying attention to this space. Swiggy shares may continue to benefit from this renewed interest.
Tuesday’s 8% surge shows that Swiggy is back in focus. As quick commerce rises and rivals post strong results, Swiggy could see more growth ahead.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
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