India's Swiggy hits record low as deeper quick commerce losses disappoint investors
BUZZ-India's Swiggy hits record low as deeper quick commerce losses disappoint investors ** Shares of Swiggy SWIG.NS plunge 14.5% to a record low of 181.15 rupees
** Instamart operator posts wider loss at its quick commerce business, disappointing investors, who continue to focus on profitability in the competitive segment
** Jefferies says Instamart's losses are a key concern for investors, adding that the current price does not fully reflect the value of SWIG's food-delivery business and cash holdings
** Emkay says it sees SWIG as a strong food delivery franchise with operating leverage and quick commerce as an optionality
** At least 17 analysts cut PT on SWIG after results; median PT now at 310 rupees vs 350 rupees last month - LSEG-compiled data
** Avg rating on SWIG, rival Eternal ETEA.NS at "buy" - LSEG-compiled data
** YTD, SWIG down 53% vs ETEA's 9.65 climb
(Reporting by Kashish Tandon in Bengaluru)
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