Indian stock market, March 13 -- Shares of India's two leading food delivery aggregators-Zomato and Swiggy-have witnessed a sharp decline from their recent peaks, slipping to multi-month lows. The downturn comes amid a broader correction in domestic equity markets, with investors growing increasingly cautious about risky assets, and new-age tech stocks being no exception.

Valuation concerns have also weighed on sentiment, and intensifying competition in the quick commerce (QC) space has added to the pressure, with new entrants like Flipkart and Amazon expanding their footprint. This has forced both companies to invest aggressively in expanding their dark store network, impacting their financial performance in Q3FY25.

The once high-flyin...