India's Swiggy slides as foreign-ownership cap concerns weigh
BUZZ-India's Swiggy slides as foreign-ownership cap concerns weigh ** Online food-delivery company Swiggy's shares SWIG.NS fall as much as 3.8% to 264.55 rupees apiece, a one-month low
** Drop follows SWIG entering the National Securities Depository's red flag list after foreign ownership moves within 3% of the applicable FPI limit
** NSDL cut foreign portfolio investor limit for the stock to 49.5% from 100%, after SWIG shareholders voted last month to impose a cape on foreign ownership in the company at that level
** "Ideally, MSCI should implement the exclusion of Swiggy from its key index on an ad-hoc basis after the foreign ownership limit change," according to Nuvama Alternative and Quantitative Research
** This could trigger passive outflows from SWIG, which is weighing on the shares, two traders say
** SWIG shares are down 31% in 2026 so far, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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