The record
Written from the 2 reports below. Nothing here is unsourced.
- Swiggy shares jumped about 5% on Tuesday despite a weak broader market where Sensex and Nifty closed lower.
- The rally came after Instamart CEO Amitesh Kumar Jha resigned and Swiggy announced Nandita Sinha as the new Instamart CEO, taking charge from August 3, per a regulatory filing.
- The stock rose from around Rs 258 to a high of Rs 273 before closing 4.70% up at Rs 270.10, lifting the company's market value to Rs 61,390 crore.
- The stock had earlier given negative returns over longer periods, though it has gained around 14% in the past month.
What to watch next
- Nandita Sinha taking charge as Instamart CEO on August 3
- Reason for outgoing CEO Amitesh Kumar Jha's resignation, if disclosed
- Whether the stock's recent one-month momentum sustains after the leadership change news
What changed2
Every report on this story, newest first. Times are when each outlet published.
Coverage2
2 reports
Indian-language2
All filed from India
Named India · Amitesh Kumar Jha · Blinkit · Instamart · Jiomart · Maaynttra · Nandita Sinha · Nifty · Reliance · Sensex · Shriharsha Majety · Swiggy
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