Swiggy shares fall 14% on 922cr Q2 loss, Cyient gains
Business
It was a rollercoaster day for some big names. Swiggy's shares dropped 14% after posting a ₹922 crore loss in Q2, though that's actually better than last year.
On the bright side, its revenue jumped 36.1%, to ₹7,571 crore, thanks to more people using quick commerce and ordering food online.
Meanwhile, Cyient had a great day with shares up 9% as its revenue climbed 25.5%, to ₹2,235 crore, even though profits dipped slightly.
Colgate-Palmolive India and NLC India slide
Colgate-Palmolive India and NLC India both saw their stocks fall by about 4%. Colgate's profit and revenue were up, but investors weren't impressed.
NLC slid after announcing new energy projects in Odisha.
Also, Petronet LNG dipped 1.5% despite teaming up with Gruner Renewable Energy to build biogas plants.