Swiggy, Zomato shares extend fall as quick commerce burn weighs

Swiggy’s 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 Jefferies flagged rising competition in the quick commerce space, projecting 2025 as a year of consolidation for Zomato following its strong rally in 2024,…