The food delivery market in India, dominated by Zomato and Swiggy, is experiencing a slowdown. The rise of quick commerce and limited discretionary spending are among the reasons for the sluggish ...

BoFA Securties, however, has downgraded Zomato to 'Neutral' and cut its target price to Rs 250 from Rs 300. It also downgraded Swiggy 'Underperform' suggesting a target of Rs 325 from Rs 420 earlier.

Swiggy and Zomato have reduced the prices of McDonald’s food products on their platforms a day after NDTV Profit reported on their inflated pricing as compared to Rapido.

Zomato (Eternal) is on fire post Q1 earnings — up 17% in two days! And now, Swiggy is following suit, gaining over 7.5% as optimism spreads across the food delivery space. Market Expert Arpit Beriwal, ...

Swiggy's share price also declined sharply and was down 1.88% to Rs 331.30. Like Zomato, Swiggy's stock has also declined nearly 9% in the past five trading sessions and nearly 4% in a month.

Reacting to this negative development, Swiggy shares tumbled 3.4% in today's trade, March 26, to ₹ 326 apiece, while Zomato plunged 5.1% to slip below ₹ 200, touching at ₹ 199.80.