Swiggy share price jumped 5.4% on Tuesday, 28 July, after the company announced a leadership change at its quick-commerce business, Instamart.
In a regulatory filing, Swiggy said Amitesh Kumar Jha has resigned as Chief Executive Officer of Instamart to pursue other opportunities. His resignation, submitted through a letter dated 28 July 2026, also marks his cessation as a Senior Management Personnel (SMP) of the company.
“I hereby tender my resignation from the position of CEO-Instamart, to pursue opportunities outside the organisation,” Jha stated in his resignation letter addressed to Sriharsha Majety, Managing Director & Group CEO, Swiggy.
Swiggy also announced the appointment of Nandita Sinha as the Chief Executive Officer of Instamart, effective 3 August 2026. She will be designated as a Senior Management Personnel (SMP) from the date of her appointment.
Nandita Sinha joins Swiggy from Myntra, where she served as Chief Executive Officer (CEO). During her tenure, she led Myntra to strengthen its position as India’s largest fashion e-commerce platform, continuing to gain market share in a highly competitive industry after steering the business to EBITDA profitability in 2024.
Speaking about her new role, Nandita Sinha, CEO, Instamart, said, “I have long admired what the team at Instamart has built. It’s a business with a strong customer-first culture, great talent and significant opportunities ahead. Instamart sits at the heart of how India shops for its everyday needs, and I look forward to working with our colleagues, partners and consumers to shape its next chapter of growth.”
Swiggy share price today
Swiggy share price today opened at ₹257.60 apiece on the BSE, the stock touched an intraday high of ₹272.95 per share, and an intraday low of ₹256.40 per share.
Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said Swiggy’s technical setup remains weak despite the recent recovery from lower levels. He noted that while the stock has established a strong support base in the ₹240–242 zone across multiple charting methodologies, the broader trend remains bearish.
Rathi said the stock faces significant resistance in the ₹280–290 range, where a falling 45-degree trendline intersects overhead supply. This resistance is further reinforced by another declining trendline on the daily 1% Renko chart, making the zone a crucial hurdle for the bulls.
According to him, a decisive breakout above ₹280–290 is necessary to confirm a meaningful trend reversal and improve the stock’s medium-term technical outlook. On the downside, a breach below the ₹240–242 support zone could accelerate the prevailing bearish momentum and trigger another leg of decline.
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said Swiggy has been consolidating within the ₹243–285 range since the beginning of July. He noted that the 100-day EMA zone of ₹280–285 has emerged as a strong resistance, with the stock failing to register a decisive close above this level on two occasions during the consolidation phase.
Shah added that, on the weekly chart, Swiggy continues to trade below its key short- and long-term moving averages, indicating an overall weak technical structure. He also pointed out that the ADX remains flat, signalling a lack of strong directional momentum, while the MACD continues to trade below its signal line, suggesting that the bearish bias persists.
According to Shah, a decisive breakout above ₹285 or a breakdown below ₹243 is likely to provide the next major directional trigger for the stock.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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