India, Oct. 23 -- Foodtech major Swiggy's shares plunged as much as 17.23% to a 52-week low of Rs.174.90 on the BSE today, a day after its Q2 FY27 results showed widening losses at quick commerce arm Instamart.

The stock pared some losses to trade at Rs.181.50, down 14.10%, at 11:21 IST. Its market capitalisation stood at Rs.50,099.69 Cr (about $5.2 Bn) at that time.

Several brokerages lowered their price targets following the results, citing higher-than-expected quick commerce losses and concerns over Instamart's growth and execution. However, most retained their existing ratings.

Swiggy's consolidated net loss narrowed 16% YoY to Rs.922 Cr in Q2 FY27 but widened 17% from Rs.791 Cr in the preceding quarter. Operating revenue rose 36% ...