Swiggy in Focus as Zomato (Eternal) Exits 10-Minute Delivery; Bolt Expands to 500 Cities  

Swiggy’s share price rose for a second straight session, extending its 12.66% rally on May 5 by an additional 0.16% on May 6. The gains reflect investor optimism following the company’s aggressive push into the 10-minute delivery market with Bolt, which is now live in over 500 cities across India. The rally was also supported by competitor Zomato (now Eternal) pulling the plug on its own quick delivery service, Quick. 

From the close on May 4 (₹305.30) to the intraday high on May 6 (₹344.50), Swiggy shares climbed as much as 12.84%, underscoring the market’s strong response to its strategic shift. On May 6, 2025, the stock closed at ₹340.80 on NSE.

Bolt Boosts Swiggy’s Delivery Volume 

Launched in October 2024, Bolt now accounts for more than 10% of Swiggy’s food delivery orders. The service has shown impressive traction across metros and Tier 2 and 3 cities, thanks to a curated menu of fast-moving items and a tight 2 km delivery radius. With a growing network of over 45,000 restaurant partners, Swiggy is leveraging operational intelligence to scale efficiently. 

Also Read: Swiggy Share Price Rises Nearly 7% as ‘Bolt’ Expands to 500 Cities. 

Zomato (Eternal) Shuts Down ‘Quick’ Citing Lack of Profitability 

In its Q4 FY25 earnings, Zomato (Eternal) announced it was shutting down ‘Quick’ and its home-style meal vertical ‘Everyday’, citing poor infrastructure fit and inconsistent demand. CEO Deepinder Goyal admitted that “incrementality in demand” was missing during the pilot, and the current ecosystem wasn’t viable for sustained 10-minute delivery. 

Operational Edge Behind Bolt’s Growth 

Swiggy credits Bolt’s success to robust backend optimisation, strategic QSR partnerships (including KFC, McDonald’s, Subway, Faasos, Burger King, and Curefoods), and demand-responsive delivery models. By focusing on consistency and customer satisfaction, Swiggy is redefining the quick-service experience. 

Swiggy’s Market Impact and Share Price Trends 

Following the Bolt announcement, Swiggy’s shares closed at ₹343.95 on May 5, 2025, on NSE. While the stock has slipped more than 37% year-to-date, recent developments suggest a potential turnaround. Zomato’s exit from the segment gives Swiggy a clearer runway to dominate India’s ultra-fast food delivery market. 

On May 6, 2025, Swiggy’s stock opened at ₹337.00, hit a high of ₹344.50, a low of ₹332.60, and closed at ₹342.80, on NSE. 

Over the last week, Swiggy’s stock rallied ~7.5%, whereas over the past month, the stock delivered a return of ~6.91%. However, the stock declined ~20.75% over the last 6 months. 

Conclusion 

Swiggy’s high-speed bet on Bolt appears to be paying off, especially as Zomato exits the quick delivery race. With expansion to 500+ cities and strategic partnerships in place, Swiggy is fast positioning itself as the front-runner in India’s 10-minute food delivery space. 

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