Swiggy, one of India’s leading food and quick commerce platforms, witnessed a sharp rally in its stock on July 22, 2025, surging nearly 5% in a single trading session.
This marked the company’s biggest intraday gain in five months and came on the back of a broader sectoral optimism triggered by the strong Q1 results of Eternal (Zomato’s parent), alongside Swiggy’s own strategic progress in its 10-minute delivery model and quick-commerce expansion.
With investors regaining confidence in the business model and execution strategy, Swiggy’s recent performance reflects a pivotal shift in market perception—from skepticism to renewed growth expectations.
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A Snapshot of the Swiggy Shares Rally

Swiggy shares closed at ₹412, a 5% gain from the previous day, fueled by robust trading volumes and positive sentiment across the quick-commerce sector.
The rally comes after months of underperformance, where Swiggy Shares had languished nearly 40% below its post-IPO highs earlier in the year. The July surge marked its most significant one-day upward movement since February 2025.
This bounce-back not only highlights renewed investor confidence but also signals Swiggy’s strengthening position in India’s increasingly competitive quick-commerce ecosystem.
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The Bolt Factor: 10-Minute Delivery Expands
At the center of Swiggy’s bullish momentum is its aggressive rollout of “Swiggy Bolt”—its 10-minute food delivery service. Over the past few months, Bolt has expanded its reach to over 500 cities and now handles over 10% of total food orders.
Unlike some competitors that have pulled back from the 10-minute model citing operational inefficiencies, Swiggy has doubled down. Bolt has proven to be a strong retention tool, especially among younger customers and in high-density areas. Reports indicate that customers using Bolt show up to 6% higher retention rates compared to traditional delivery users.
Bolt’s growing traction is viewed as a competitive edge in a market where speed, convenience, and reliability define customer loyalty.
Sector-Wide Optimism: Eternal’s Strong Q1 Lifts All Boats
While Swiggy Shares internal strategy has certainly impressed analysts, a significant portion of the rally can also be attributed to Eternal’s Q1 FY26 results. Eternal, the parent company of Zomato and Blinkit, reported a 70% year-on-year revenue growth driven by Blinkit’s explosive rise in the quick-commerce space.
This performance sent Eternal’s stock soaring by 15%, and the ripple effect was immediately felt across the sector. Investors viewed Blinkit’s success as a validation of the quick-commerce model, thereby boosting confidence in similar businesses—Swiggy being the most prominent among them.
With Blinkit and Swiggy emerging as the two leading players in the space, Eternal’s performance effectively served as a benchmark for Swiggy’s potential.
Brokerage Upgrades and Institutional Buying
Adding further fuel to the rally were multiple brokerage upgrades and institutional interest. Several research firms initiated or revised their ratings on Swiggy with “Overweight” or “Buy” calls, citing the company’s solid delivery infrastructure, strong customer base, and expanding product offerings.
Analysts have also praised Swiggy’s ability to execute its quick-commerce vision more effectively than competitors. They see the company as being well-positioned to dominate both the food delivery and grocery segments.
Most price targets were revised upward to the ₹405–₹500 range, indicating potential upside from current levels. Institutional buying during the day was significantly higher than average, reinforcing the bullish sentiment.
Zomato’s Strategic Exit from 10-Minute Delivery

Another major catalyst in Swiggy Shares favor was Zomato’s recent decision to discontinue its own 10-minute food delivery service. The move was attributed to inconsistent demand, poor unit economics, and operational constraints.
Zomato’s withdrawal effectively left the field wide open for Swiggy’s Bolt to capture more market share with less direct competition. With less price pressure and fewer players, Swiggy now has the opportunity to consolidate its position and attract customers looking for ultra-fast delivery.
This development further reinforces Swiggy’s strategy of investing in logistics, micro-fulfillment centers, and dark kitchens to support high-frequency, low-value orders—essential for the quick-commerce model to work.
Technical Breakout and Volume Indicators
From a technical standpoint, Swiggy Shares formed a strong bullish breakout pattern on July 22, closing above key resistance levels around ₹330–₹340. The surge was backed by high volumes, indicating institutional participation and long-term interest.
Traders observed that the stock had formed a base over the last two months, and the current breakout signals the start of a new bullish trend. Several technical analysts now expect the stock to test levels of ₹450–₹470 in the near term.
In essence, the rally wasn’t just sentiment-driven; it was technically supported by price and volume action—a rare alignment that gives additional strength to the upward movement.
Strong Growth in Grocery and Non-Food Verticals
Beyond Bolt and food delivery, Swiggy’s quick-commerce arm—Instamart—has been making solid progress. With increasing demand for ultra-fast grocery delivery, Swiggy has expanded Instamart’s reach to smaller cities while refining its inventory management and supply chain systems.
Additionally, Swiggy has started investing in adjacent verticals such as event booking (Swiggy Scenes), mini-meal central kitchens (Swiggy Snacc), and even subscription services, creating a robust ecosystem around everyday lifestyle needs.
These expansions have not only diversified Swiggy’s revenue streams but also reduced its reliance on the highly competitive food delivery segment.
Challenges Ahead
Despite the strong rally and positive outlook, Swiggy continues to face several challenges:
- Profitability: Both Bolt and Instamart are currently operating at a loss due to high operating expenses, delivery subsidies, and infrastructure costs. Achieving break-even remains at least a few quarters away.
- Competition: While Zomato may have exited 10-minute food delivery, other players like Zepto, BigBasket, and Amazon Fresh continue to intensify the competition in the quick-commerce space.
- Execution Risk: Scaling up quick commerce across geographies requires efficient logistics, localized dark store networks, and tech investment. Any missteps could impact user experience and operational efficiency.
However, Swiggy’s management appears aware of these risks and is focusing on unit-level profitability, retention metrics, and customer satisfaction as key performance indicators.
Outlook for the Coming Quarters
With Swiggy’s recent gains and sector-wide tailwinds, analysts are optimistic about its performance in the remaining quarters of FY26. Key priorities include:
- Continued expansion of Bolt into Tier 2 and Tier 3 cities
- Margin improvement in Instamart and grocery delivery
- Introduction of value-added services like subscriptions and loyalty programs
- Enhancing the ecosystem for lifestyle and dining-out services
Swiggy’s ability to retain customers and increase order frequency will play a crucial role in sustaining its top-line growth while inching closer to profitability.
Conclusion
Swiggy’s sharp 5% share price rally—the most significant in five months—signals a turning point for the company. With the successful rollout of Bolt, growing momentum in Instamart, and the withdrawal of a key competitor from 10-minute delivery, Swiggy is well-poised to lead the quick-commerce space in India.
Investor confidence is back, and technical indicators suggest the rally may have legs. However, challenges around profitability and execution persist. If Swiggy can manage growth while improving operational efficiency, it may not only sustain this momentum but emerge as a dominant force in India’s digital commerce ecosystem.
This rally could be the beginning of a longer-term re-rating, as Swiggy Shares transitions from a pure-play delivery company to a multi-service lifestyle platform.