Swiggy Shares Rise 7% After Nandita Sinha Takes Charge Of Instamart

Shares of Swiggy continued their upward movement on July 29, gaining around 7.3% after the company announced the appointment of former Myntra CEO Nandita Sinha as the new chief executive officer of its quick commerce division, Instamart.

The stock was trading at ₹288 around 11:43 am, marking the third consecutive session of gains for the food delivery and quick commerce company.

Sinha will officially take charge of Instamart from August 3, replacing Amitesh Jha, who was previously appointed from Flipkart.

Investor sentiment towards Swiggy has also improved following developments around the quick commerce sector.

Shares of Swiggy and Eternal (formerly Zomato) had rallied on July 28 after reports suggested that Zepto was exploring an initial public offering (IPO) at a post-money valuation of around $3 billion, significantly lower than its earlier target of about $5 billion.

Market participants believe that a lower IPO valuation and a possible reduction in fundraising plans indicate that public market investors are becoming more cautious about funding high cash-burn business models.

This could potentially reduce Zepto’s ability to continue aggressive spending on discounts, expansion of dark stores and customer acquisition.

Such a shift may ease competitive pressure on listed players like Swiggy and Eternal, allowing them to focus on improving profitability and operational efficiency.

Nandita Sinha brings extensive experience from the e-commerce sector and has been credited with scaling Myntra into a large and profitable business within the Flipkart ecosystem. Before joining Flipkart, she worked with companies including Britannia and Hindustan Unilever.

Welcoming her appointment, Swiggy Managing Director and Group CEO Sriharsha Majety said Sinha’s experience, customer focus and operational expertise would help Instamart strengthen its growth strategy.

Sinha said she sees significant opportunities ahead for Instamart, highlighting its customer-first approach, strong team and role in shaping how Indian consumers purchase everyday essentials.

Shares of Swiggy and Eternal have gained around 12% each over the last three trading sessions. Swiggy is also scheduled to announce its financial results for the first quarter of FY27 on July 30, which investors will closely track for growth, profitability and quick commerce performance.