Online food delivery giant, Swiggy Ltd. has received an income tax order demanding ₹158.25 crore for the assessment year 2021-22. The order, issued by the Deputy Commissioner of Income-tax, Central Circle – 1(1), Bangalore, alleges discrepancies related to cancellation charges paid to merchants and interest income on tax refunds. Swiggy, in its regulatory filing with the […]
Zomato, Swiggy shares downgraded by BofA Securities, price targets cut – CNBC TV18
Brokerage firm BofA Securities has downgraded shares of food delivery aggregators Zomato Ltd. and Swiggy Ltd. on Wednesday, March 26 and also cut its price target on both. Zomato has been downgraded to “neutral” from BofA’s earlier recommendation of “buy” and cut its price target to ₹250 from ₹300 earlier. Swiggy has received a double-downgrade […]
Swiggy Q3 Results: Net loss widens to ₹800 crore; Instamart to reach 4 million square feet area by March – CNBC TV18
Food delivery aggregator Swiggy Ltd. reported a net loss of ₹800 crore for the December quarter, wider than the loss of ₹574 crore which it reported during the same quarter last year. Company Value Change %Change Swiggy’s revenue went up by 31% on a year-on-year basis to ₹3,993 crore from ₹3,049 crore last year. Earnings […]
Shareholder Lock-Ins: Swiggy, Ola Electric, Acme Solar among those in the spotlight – CNBC TV18
As many as 15 companies will be in focus as their respective shareholder lock-in periods come to an end over the next two weeks. About 292.53 crore shares of these companies, which also include stocks like Swiggy, Ola Electric Mobility, Acme Solar Holdings, Sagility India, will see shares freed up for trade across various timeframes, […]
Swiggy shares do not have much upside, HSBC says as breakeven may take longer – CNBC TV18
Brokerage firm HSBC has initiated coverage on food delivery aggregator Swiggy Ltd. with a “hold” recommendation on Friday, December 6. Company Value Change %Change HSBC has ascribed a price target of ₹550 for Swiggy’s shares, which is nearly the same price at which the stock had closed on Thursday. Swiggy shares had ended at ₹540 […]
Zomato shares cross ₹300; Swiggy hits new highs but Jefferies raises some concerns – CNBC TV18
Shares of food delivery and quick commerce aggregators Zomato Ltd. and Swiggy Ltd. hit new highs on Thursday, December 5. Zomato shares surged as much as 6.5% on Thursday to cross the mark of ₹300, making a new high of ₹304.65. The stock has now gained in seven out of the last nine trading sessions. […]