Shares of Swiggy Ltd experienced a notable surge of 2.5%, reaching Rs 434 per share, following the release of its Q2 financial results. Although the company's net loss increased to Rs 1,092 crore for the quarter ending September 2025, this figure represented a narrowing of losses on a sequential basis. The growth in revenue from operations was significant, climbing to Rs 5,561 crore compared to Rs 3,601 crore in the same quarter last year. This positive trend was largely attributed to the company's quick commerce arm, Instamart, which has shown robust growth despite ongoing challenges.

Brokerage firm Jefferies highlighted the smart rise in average order value as a key contributor to Instamart's performance but noted that achieving profitability in the quick commerce segment will require an increase in the company's take-rate—the percentage of revenue retained from each transaction. Jefferies has set a target price of Rs 500 for Swiggy's shares, citing strong food delivery growth and potential for margin expansion. In contrast, HSBC expressed concerns regarding Swiggy's loss of market share to competitors like Blinkit, emphasizing the need for improvements in marketing costs and operational efficiency to maintain competitiveness in the sector.

Other analysts have varied outlooks on Swiggy's future. Nomura projected a target price of Rs 560, driven by anticipated fundraising efforts of up to Rs 10,000 crore that could enhance Swiggy's balance sheet. They expect a 19-20% growth in Gross Order Value (GOV) for FY26-27. Meanwhile, CLSA issued an "Outperform" rating with a target of Rs 493 per share, noting the mixed results of the quarter, particularly with Instamart's margin gains juxtaposed against slower order growth. As of now, Swiggy's stock has seen a 22% decline in value for 2025, indicating the uphill battle it faces in an increasingly competitive marketplace.