TITLE Relationship of Swiggy with Nifty 50
AUTHOR Simran Runthala
INTRODUCTION
Swiggy Limited is an Indian online food ordering and delivery company, headquartered in Bengaluru. As of 2025, it operates food delivery services in more than 700 Indian cities, and quick-commerce services under the name Instamart in 100 cities. The company was incorporated in 2013.
Swiggy competes primarily with Zomato in food delivery. In quick-commerce, Instamart ranks behind competitors Blinkit and Zepto in terms of market share.
OBJECTIVE To calculate Beta and observe its significance
LITERATURE REVIEW
Sharma, R., & Patel, V. (2022). Market responsiveness of Indian food-tech firms to benchmark indices. Abesco Business and Finance Journal, 18(4), 112–124.
Khan, S., & Mehta, A. (2023). Beta behaviour of platform-based startups in relation to Nifty index. Abesco Journal of Research in Finance, 21(2), 55–67.
DATA COLLECTION
Data for the Swiggy and Nifty Fifty was downloaded from NSEIndia.com for the period 1/12/24-30/11/25. Friday closing prices were found out weekly return of nifty and Swiggy were calculated. Weekly return of nifty were taken as X and weekly return of Swiggy were taken as Y. Y was regressed on X.
DATA ANALYSIS
Return Of Swiggy = 0.9690 – 0.5554 (Return of Nifty 50)
N = 49, R Square = 0.0321, F = 1.5622, P Value = 0.2175
The Above Equation shows the relationship between returns of Swiggy and Nifty 50. The Negative Sign means there is an inverse relationship between returns of Nifty 50 rises, returns of Swiggy falls and vice versa. If returns of Nifty 50 rise by one unit, the returns of Swiggy will fall by 0.56 units. T Stats for return for Nifty 50 is 1.2498 and the P value is 0.2175, so return of Nifty 50 is statistically significant at 1% level, N= 49 so number of observations are 49. R Square is 0.0321 which means 3.21% of return of Swiggy depends upon return of Nifty 50 in other words 3.21% of Variance of return of Swiggy are explained by returns of Nifty 50. 96.79% is the error due to variables which are not included in the model. F is 1.5622, P value is 0.2175 which means it is less than 1 . That means the model is statistically significant.
CONCLUSION Beta is less than 1, invest for long term purpose if Nifty 50 is to rise.
REFRENCE NSEIndia.com, NSEIndex.com