Swiggy shares extend rally up to 8% today; what Morgan Stanley expects post Instamart leadership change

Swiggy shares extended their rally for a third consecutive trading session on Wednesday, July 29, as stock market investors focused on the company’s leadership change and transformations in its quick commerce business ahead of the April to June quarter earnings report.

Shares of Swiggy surged 8% to their intraday high of ₹289.99 apiece on Wednesday’s market, compared to ₹268.47 apiece at the previous stock market session, according to NSE data.

After touching the day’s high, Swiggy stock price was trading 7.7% higher during the afternoon market hours at around ₹289.24 apiece on July 29.

Swiggy’s board of directors is set to announce its April to June quarter results for the financial year 2026-27 on Thursday, July 30, 2026.

New Instamart CEO

On Wednesday, July 28, Swiggy informed the stock exchanges that Amitesh Kumar Jha, the chief executive officer (CEO) of Instamart, tendered his resignation to pursue other opportunities, according to the NSE filings.

Swiggy also informed investors that the company has appointed Nandita Sinha as the new CEO of the company’s Instamart business effective from August 3, 2026.

“Nandita Sinha has been appointed as CEO – Instamart with effect from August 3, 2026, and will be categorised as SMP of the Company from the said date,” the company informed the stock exchanges.

Prior to the shift, Nandita Sinha was working as the CEO of Myntra, and the industry veteran has more than two decades of experience in consumer businesses across fashion, e-commerce and FMCG sectors.

Here’s what Morgan Stanley expects

US-based leading investment firm Morgan Stanley's analysts said that Swiggy's quick commerce (Instamart) business has been focused on prioritising profitability over market share in recent quarters.

The experts also said that Swiggy Instamart’s leadership change is expected to bring a strategy refresh and a potential path to regain market share loss in the sector.

“We think churn at the leadership level may further compound investor concerns around loss of market share. We also think a change in leadership could bring a strategy refresh and potential path to regain market share loss,” said analysts.

Morgan Stanley analysts said that the company is expected to keep maintaining break-even or profitability at the contribution margin level.

How have Swiggy shares performed?

NSE data showed that Swiggy shares have lost 30% of their value in the past one-year period and have declined around 26% on a year-to-date (YTD) basis in 2026.

However, in the near term, the company’s stock has delivered more than 21% returns on its investment in the last one month, and was trading nearly 10% higher over the last five sessions.

Swiggy shares surged to their 52-week high of ₹474 on September 19, 2025, while the 52-week low level was at ₹235.75 on June 30, 2026, as per the exchange data. The company’s market capitalisation (m-cap) was at ₹79,411 crore as of the trading session on Wednesday, July 29, 2026.