India's Swiggy rises after Nandita Sinha appointed Instamart CEO

Swiggy

28/07/2026 08:26

** Shares of Indian food delivery co Swiggy SWIG.NS rise 4.8% to 270.28 rupees
** Co on Tuesday named former Flipkart exec Nandita SinhaCEO of its quick commerce arm Instamart, effective August 3
** Amitesh Kumar Jha resigned as Instamart CEO, co added
** Sinha was formerly CEO of Flipkart's fashion arm Myntra
** SWIG had hit day's high of 273 rupees prior to announcement, up as much as 5.8%
** More than 24.7 mln shares traded by 12:51 p.m., 1.4x the 30-day avg
** SWIG on avg rated "buy" by 28 analysts; median PT is 360 rupees - LSEG-compiled data
** Stock down 30% YTD
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))