Swiggy, Zomato shares decline in volatile market
Shares of Swiggy and Zomato saw significant declines on Monday amid a broader market downturn. Swiggy's shares fell over 8%, with a five-day correction of over 9%, while Zomato's shares dropped over 3% following a 57% year-on-year drop in Q3 net profit. Increased spending and expansion efforts, particularly in quick commerce, impacted Zomato's performance.
Shares of Swiggy and Zomato saw significant declines on Monday amid a broader market downturn. Swiggy's shares fell over 8%, with a five-day correction of over 9%, while Zomato's shares dropped over 3% following a 57% year-on-year drop in Q3 net profit. Increased spending and expansion efforts, particularly in quick commerce, impacted Zomato's performance.
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