Swiggy Shares Hit Record Low Amid Intense Competition

• Swiggy Ltd. shares fell to a record low after intense competition led to wider-than-expected losses.
• The stock price dropped 26% in one month and is now down 46% from its IPO price.
• Questions have been raised about Swiggy's long-term earnings potential.
• The intense competition in the Indian food-delivery market has significantly impacted Swiggy's financial performance.
• Swiggy's market position and future growth are now under scrutiny.