India, Feb. 5 -- Shares of the foodtech major Swiggy dropped more than 4% to INR 414.75 apiece during the morning trade session on the BSE today (February 5).

As of 10:54 AM, the stock was down 3.6% at INR 418.10 per share on the BSE, compared to its last close of INR 433.65 apiece yesterday (February 4).

The market capitalisation currently stands at INR 94,684.63 Cr ($10.86 Bn).

Swiggy has been on the downward trend since yesterday, while its peer Zomato's shares also ended in red at INR 234.50 apiece.

It is to note that the brokerages hold a positive outlook on the company's potential in the rapid growth of food delivery and quick commerce markets in the country today.

Multiple brokerages including UBS, JM Financial, Axis Capital a...