Quick commerce has grabbed the lion’s share of the attention, but food delivery continues to drive the fundamentals for Zomato and Swiggy, which is perhaps being overlooked by investors
Food delivery-turned-quick commerce giants Swiggy and Zomato have seen significant erosion in value and stock price in the past month, with Swiggy dropping by around 45% and Zomato by 30%. Pertinently, Swiggy hit its all-time low this past week before bouncing back curiously just after reports of the food delivery business being…