Swiggy’s ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/market-capitalisation” target=”_blank”>market capitalisation has now fallen below $10 billion, while Gurugram-based Zomato’s valuation slipped under $23 billion.
Zomato’s shares were down 4.34% to Rs 215, while Swiggy’s declined 4.74% to Rs 343.35 on the BSE as of 01:56 PM.
Last month, global brokerage firm ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/jefferies” target=”_blank”>Jefferies flagged data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/markets/stocks/news/zomato-shares-fall-5-following-jefferies-downgrade-target-price-slashed-to-rs-275/articleshow/117010650.cms” data-type=”tilCustomLink” target=”_blank”>rising competition in the quick commerce space data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://mail.google.com/mail/u/0/#m_-4397149650482503010_inbox/_blank” rel=”nofollow”/>, projecting 2025 as a year of consolidation for ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms”>Zomato following its strong rally in 2024,…
