Zomato
Rapido will need to go all out to battle Zomato, Swiggy in food delivery, say brokerages
Rapido is entering the competitive food delivery market dominated by Zomato and Swiggy, initiating a pilot program in Bengaluru. While analysts anticipate minimal immediate impact on the market leaders' shares, Rapido's lower commission structure could attract restaurants, particularly in tier-II cities. Success hinges on significant investment in customer acquisition through discounts and technology to achieve substantial GMV.
He came to deliver food but what the customers did next left this delivery agent in tears. Watch video
A Zomato delivery agent in Hyderabad was recently taken by surprise when a group of customers celebrated his birthday during a food delivery. In a video that has gone viral, the man is seen entering a room expecting a regular order drop-off but instead finds balloons, a cake, and people singing for him. Overwhelmed by the gesture, he breaks down in tears.
Rapido cuts food delivery charges by half to counter Zomato, Swiggy
The partnership terms state Rapido will charge a fixed fee of Rs 25 on orders below Rs 400 and Rs 50 on orders over Rs 400. This translates to a range of 8-15% commissions from restaurants, compared to 16-30% charged by Zomato and Swiggy. Consumers will be able to place orders on the Rapido app where restaurants will be listed.
Rapido crashes food delivery party. Should Swiggy and Eternal investors be worried?
Rapido has entered the food delivery space with an aggressive low-commission model, undercutting Swiggy and Zomato and shaking investor sentiment. Shares of Swiggy’s parent, Eternal, fell as much as 4% over two sessions. While Rapido lacks a dedicated fleet, analysts say its growing rider base and disruptive pricing could pressure incumbents' profitability and challenge their dominance.
Rapido trying a bite in a market that has burned big names
Rapido, the two-wheeler ride-hailing company, is venturing into the competitive food delivery market, backed by significant funding and plans to expand its reach. Aiming to disrupt the Zomato-Swiggy duopoly, Rapido offers lower commission rates to restaurants. However, the company faces challenges, including high operational costs and the need to differentiate itself in a demanding industry.
Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission
Zomato and Swiggy shares declined following Rapido setting significantly lower commission rates for its food delivery foray, ranging from 8–15% compared to the 16–30% charged by the established players. This move has resonated with restaurant owners who have voiced concerns over the high costs associated with Zomato and Swiggy.
Buy Eternal & Swiggy, sell Nykaa & BSE: Latest investing mantra of mutual funds
Mutual funds significantly increased their investments in Eternal and Swiggy, allocating approximately Rs 7,500 crore in May, while simultaneously reducing their holdings in Nykaa and BSE. This shift reflects growing confidence in the long-term potential of food delivery and quick commerce, despite current market challenges.
I-Sec maintains Buy on Eternal, target price Rs 310
ICICI Securities recommends a 'buy' for Eternal (Zomato), setting a target price of Rs 310. Currently priced at Rs 251.05, the small-cap company reported a consolidated total income of Rs 6201 crore for the quarter ending March 31, 2025, a 9.62% increase from the previous quarter and a 63.31% surge year-over-year.
Nexus Venture to invest Rs 125 crore in Rapido ahead of food delivery launch
Rapido is also chalking out plans to enter the insurance distribution space where it could target its driver partners and customers for products such as health, life, general and motor insurance. In fiscal 2025, Rapido’s gross order value (GOV) more than doubled to $1.25 billion on the back of growth in its ride-hailing services.
MakeMyTrip plans $3 billion buyback; China’s Trip.com stake to drop below 20%
MakeMyTrip intends to raise $3 billion through debt and equity to repurchase shares from Group, reducing their stake from 45.34% to 19.99%. This move follows allegations of data security concerns related to Chinese shareholding. The company reported record gross bookings and profits for FY25, despite a share price drop after the announcement.
BigBasket to launch 10-minute food delivery across India by March 2026, executive says
The Tata-backed grocery giant will take on established players such as Swiggy's Snacc, Blinkit's Bistro and Zepto Cafe, which already deliver coffee and ready-to-eat snacks in less than 15 minutes.
Pine Labs, Meesho eye D-Street address; Rapido’s food delivery outlook
Pine Labs is set to file its draft prospectus for its IPO by June-end, while Meesho may follow suit in the coming weeks. This and more in today’s ETtech Top 5.
Swiggy shares rise 5% in two days after Morgan Stanley initiates coverage with overweight rating
Morgan Stanley initiated coverage on Swiggy with an 'Overweight' rating and a price target of Rs 405, indicating a 22% upside. The brokerage highlighted strong growth potential in food delivery and quick commerce, valuing Swiggy as an emerging competitor to market leader Zomato with significant long-term earnings prospects.
Zomato poised for smart rebound post capex cycle: Mayuresh Joshi
Quick commerce companies are investing heavily in dark stores, impacting earnings and cash flow. Competition is intensifying with JioMart and others entering the space. The EV sector faces headwinds due to China's control of rare earth materials and slowing global demand, potentially affecting Indian EV production despite government incentives.
Rapido’s fresh funding; Starlink’s gotcha moment
Rapido has bagged fresh capital from an investor ahead of its food delivery rollout. This and more in today’s ETtech Top 5.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Nischal Maheshwari sees no long-term impact on Zomato, Swiggy from Zepto’s regulatory issues
Market expert Nischal Maheshwari views the reduction in palm oil duty as positive for the FMCG sector. However, weak volume growth remains a concern. Zepto faces regulatory hurdles amidst fierce competition in the quick commerce space. Maheshwari believes this is a temporary setback for Zepto. He emphasizes the need for Zepto to strengthen its systems and procedures for future growth.
Govt may increase scrutiny on quick commerce firms following hygiene, food safety issues
The government is likely to increase oversight of quick commerce companies’ dark stores following a spate of complaints about food safety violations at facilities run by leading players. Officials told us that the Food Safety and Standards Authority of India (FSSAI) will lead the effort, with plans for surprise inspections at dark stores and other storage facilities across the country.
Online prices in 12 cities to be monitored for new CPI series
The government plans to monitor e-commerce price trends in 12 major cities to improve the accuracy of the new Consumer Price Index (CPI) series, set to release in 2026. This initiative involves tracking prices from leading online sellers and expanding market coverage to 2,900 markets.
Cred’s down round; Blinkit’s food safety woes
Happy Tuesday! Cred has raised fresh funding at a steep cut in valuation. This and more in today’s ETtech Morning Dispatch.
At 79% Bengaluru house prices rose the most in five years, check the property price rise in these 7 major cities
Bengaluru's housing market has seen a remarkable surge, with prices soaring by 79% in the last five years, surpassing all other major Indian metropolitan cities. This growth is fueled by the city's thriving IT sector and high concentration of tech professionals. In contrast, Hyderabad witnessed a significant increase in unsold housing units despite a rise in per square feet prices.
Nifty Internet index outperforms peers with 19% returns since Feb launch. Is the dotcom boom here to stay?
The Nifty India Internet Index has shown impressive growth since its inception in February, outperforming the Nifty 50 and many sectoral indices. This growth is fueled by increasing investor confidence in digital-first business models and the shift towards online platforms. While some internet stocks have struggled, consumer-facing digital disruptors have largely driven the index's positive performance.
BlueStone’s pre-IPO glow up; PE funds go tech shopping
Ahead of its listing, BlueStone is poised to become India’s next unicorn through a secondary deal. This and more in today’s ETtech Morning Dispatch.
Instamart partners with Bharat Organics to bring certified organic staples to Indian homes
Instamart has partnered with Bharat Organics, facilitated by an MoU with NCOL, to offer 21 certified organic staples to consumers in major Indian cities. This collaboration aims to connect organic farming cooperatives with health-conscious, digital consumers, providing products like pulses, spices, and oils at competitive prices.
Big relief for consumers suffering loss due to dark patterns; Govt asks all e-commerce sites to take steps to eliminate dark patterns
The government is cracking down on deceptive 'Dark Patterns' used by e-commerce platforms. The CCPA has issued an advisory, urging platforms to conduct self-audits within three months to identify and eliminate these manipulative practices. Guidelines outline 13 specific dark patterns, including false urgency, basket sneaking, and subscription traps, which mislead consumers and cause financial loss. Read below to know what the government said about dark patterns on e-commerce websites.
Pushing value meals and 10-min food delivery to revive growth: Swiggy’s Rohit Kapoor
As the food delivery market cools, Swiggy is turning to quick meals, affordable combos, and deeper city penetration to stoke demand. In an exclusive interview with ET, Swiggy’s food marketplace CEO Rohit Kapoor said growth will come from low-frequency users and category innovation — not from city expansion.
4 reasons why Morgan Stanley believes Eternal shares can rally up to Rs 320
Morgan Stanley remains bullish on Eternal (formerly Zomato), naming it a top pick with a target price of Rs 320, citing market leadership and a strong balance sheet. The brokerage projects India's Quick Commerce TAM to reach US$57 billion by 2030, driven by rapid customer growth.
10-minute delivery boom fuels hyperlocal warehousing surge in urban and tier-2 India
India's booming quick-commerce is driving unprecedented demand for small, hyperlocal warehouses, converting underutilized urban spaces into micro-fulfillment hubs. This surge is transforming urban logistics, impacting rental dynamics, and expanding into Tier-2 cities. Companies are prioritizing speed and location, leading to innovative real estate repurposing and significant growth in the sector.
Axis Bank Privilege Credit Card: How to get discounts on domestic, international flights with Yatra
Axis Bank Privilege Credit Cardholders on the American Express Network can enjoy exclusive benefits on food, shopping, and travel until June 30, 2025. Cardholders can avail discounts on Zomato, Blinkit, and Swiggy using specific promo codes on Saturdays.
Two Trades for Today: A metals major for almost 9% gain, an e-commerce large-cap for 6% rise
Technical analysis identifies select stocks that may gain momentum even in volatile markets. Here are the technical calls for today.
Longevity startup Biopeak raises $3 million from Ranjan Pai's Claypond Capital, Accel’s Prashanth Prakash, others
The company has launched its first longevity clinic in Bengaluru and plans to expand to other metros within a year. Biopeak offers a personalised preventive healthcare service, combining diagnostics, AI, and concierge-style care to predict health risks and craft tailored intervention plans.
Eternal block deal: BNP Paribas buys shares worth Rs 1,484 crore in Zomato parent
Eternal shares rose 5% on Friday, following a substantial acquisition by BNP Paribas Financial Markets, which invested Rs 1,484 crore in the food delivery firm. The Zomato operator a saw a couple of block deals by the French multinational bank's investment arm. Its shares were purchased at a premium of 4.3% over the Thursday closing price of Rs 228.37 on the NSE.
India’s listed digital firms’ market in early days as ‘reverse flipping’ gains steam: Bay Capital
The white paper noted that publicly listed digital-first companies in India are now valued at over $90 billion. As more businesses turn profitable and scale up, the overall value of India’s digital sector is expected to rise steadily, it added.
BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru
BigBasket has entered the rapid food delivery market, offering a 10-minute service in Bengaluru, featuring items from Starbucks and Qmin. This move follows CEO Hari Menon's announcement of expanding into food delivery by 2025. The rapid food delivery segment is becoming increasingly competitive, with Zepto, Swiggy, and Blinkit also expanding their offerings.
Eternal shares jump over 8% in 2 days. Here's why
Eternal shares: The rally was largely driven by Morgan Stanley reaffirming its ‘Overweight’ rating on the stock, with a maintained target price of Rs 320 per share.
Investing is not about Nifty, but a business & its growth: 7 large-caps from different sectors with upside potential of over 31%
Most investors must feel that the Nifty and Sensex have taken them from heaven to hell and back in just one year. So, take your eye off the indices and focus on the businesses you own through your stocks. If you own a pharma company, look at what President Trump is doing and not at the Nifty. Just two days back there was a surprise inspection at an Indian pharma plant, probably the beginning of something that may continue for some time. However, the inspection did not hit the stock price. Why? Because the company is fundamentally strong. If the business and management are strong, then what the Nifty does will not matter.
RCB vs PBKS IPL 2025 Final: Where to Buy Tickets for the June 3 Match
Royal Challengers Bengaluru has reached the Indian Premier League 2025 final. They beat Punjab Kings in Qualifier 1. The final will be on June 3 in Ahmedabad. RCB will play their fourth IPL final. Ticket sales started on May 27 online. Prices range from ₹1,000 to ₹20,000. Their opponent will be either Punjab Kings or Mumbai Indians.
Swiggy may recover quick commerce share despite widening losses: Morgan Stanley
Despite ongoing losses, Morgan Stanley is optimistic about Swiggy's quick commerce venture, Instamart, citing a significant rise in gross order value. The brokerage firm anticipates Swiggy's strong financial position will enable it to withstand competition and maintain market share. They also project substantial growth in the quick commerce market by 2030, benefiting companies with existing infrastructure investments.
Quick commerce growth eating share from other channels
A Kearney report indicates quick commerce growth largely coming from other sales channels. Supermarkets and ecommerce offer bigger discounts. Marico aims to tailor portfolios to boost sales. Quick commerce contribution to ecommerce sales doubles yearly. It accounts for 3-6% of consumer goods firms' sales. Kearney projects threefold growth for quick commerce grocery market by 2027. Consumer companies expect continued segment growth.
Trump vs Musk turns ugly; Biopeak's fresh funding
Tensions escalated between Elon Musk and Donald Trump as the former sharpened his critique of the Budget Bill. This and more in today’s ETtech Top 5.
Startups leverage distribution chops to gain ground in general insurance
Startups are leveraging their distribution muscle to carve out a larger share of India’s underpenetrated general insurance market. A growing number of startups have secured or are applying for corporate agency licences, which allow them to partner with up to 27 insurers across life, general and health categories.
A bite of exercise in the corner office: C-suite leaders weave in short bursts of physical activities into workday
Indian executives are increasingly prioritizing well-being by integrating physical activity into their workday. From walking meetings to exercise snacking, leaders are finding creative ways to stay fit amidst demanding schedules. Companies are embedding wellness into their culture, promoting movement breaks and prioritizing employee health, recognizing its positive impact on decision-making and overall performance.
Rohit Kapoor on Swiggy’s food delivery slowdown; Group life insurance gains traction
Happy Tuesday! As the food delivery market cools, aggregators are scrambling to find growth avenues. This and more in today’s ETtech Morning Dispatch.
Rs 15 lakh crore in net profit! India Inc’s top 500 cos break records in FY25 despite downgrades
India's top 500 companies achieved a record-breaking ₹15 lakh crore in net profit in FY25, driven by strong performances in agriculture, chemicals, and telecom, despite widespread earnings downgrades. While FY26 earnings forecasts have been revised downward, analysts remain optimistic about sectors like defence and telecom, anticipating continued growth and resilience in the face of economic uncertainties.
Nvidia on m-cap podium; Flipkart’s block deals
GPU giant Nvidia has once again become the most valued publicly traded company in the world, boasting strong financials and sector dominance. This and more in today’s ETtech Top 5.
Don’t Chase Hype: Anshul Saigal sticks to value over virality in stock selection
Anshul Saigal of Saigal Capital suggests that while early monsoons generally benefit India, fundamentals drive the market beyond short-term weather impacts. He favors broader market opportunities over expensive, unprofitable stocks like Zomato. Saigal is positive on the CDMO space due to potential gains from the China plus one strategy, while being cautious on generic pharma exports to the US.
Most listed new-age startups improve Q4 profitability; Swiggy, Ola lag behind
Out of 17 publicly listed new-age firms in India, 11 reported better profitability in the March quarter, either by narrowing losses or posting stronger profits. Top performers included Nykaa, Policybazaar, Delhivery, Ather Energy and Ixigo. This points to stronger operational discipline across India’s digital-first companies.
These large- and mid-cap stocks can give more than 30% return in 1 year, according to analysts
History suggests that recoveries in the markets are led by large-cap stocks. But in the past two years, because a large amount of money has started to flow into mid-cap MF schemes, there have been phases where the rally and recovery have been led by mid-caps. If we go with the assumption that the markets will remain in bullish mode, it would be better to have exposure to stocks from both the mid- and large-cap segments. It also ensures diversification both in terms of market cap as well as sector. Remember: There are a number of sectors that only have mid-cap companies and some of them are doing well.
Is the trend of chasing themes in the market over? Shreyash Devalkar explains
Shreyash Devalkar of Axis Mutual Fund suggests a shift in investment strategy. Broad investment themes are less effective now. He recommends focusing on individual stock selection. Public Sector Undertakings or PSUs have performed well. However, thematic investing may not be wise. He highlights financial services and select pharma as areas of interest. Digital space growth is strong, but valuations vary.
'I am also human': An 18-Year-old’s delivery executive's silent cry for dignity sparks outrage on Reddit
An 18-year-old Zomato delivery worker's Reddit post exposed the harsh realities faced by gig economy workers in Mumbai. He recounted instances of abuse, language discrimination, and physical assault while striving to support his family.
Instamart drops parent 'Swiggy' in re-branding move for quick commerce platform
Instamart has unveiled a fresh logo, which contains the Swiggy 'S-Pin' icon as "a subtle tribute to the brand's origins", the company informed. "Instamart's promise has grown beyond grocery categories, tier I cities and food delivery users. It's become a service with its own voice, its own loyal users, and a role in everyday life that's both personal and essential.
Founders are going direct — but startup rivalry is nothing new
The battle for capital among high-growth startups is as personal as it is financial — and increasingly, it’s playing out in public. But let’s be clear — founders trying to undercut rivals during a fundraise isn’t new. It’s just more visible now. From investor whisper campaigns to selectively leaked numbers, this sort of interference has long been part of high-stakes corporate rivarly.
Eternal shares drop 4.5% on foreign shareholding cap
Eternal's shares declined 4.5% due to the company's decision to limit foreign shareholding to 49.5%, potentially triggering significant selling by overseas passive funds. Nuvama Alternative & Quantitative Research estimates outflows ranging from $820 million to $1.3 billion as MSCI and FTSE benchmarks reduce the stock's weightage. This shift stems from Eternal's move to become an Indian Owned & Controlled Company.
'Lost a ₹1.25 lakh job to a car accident': Zomato rider’s journey of struggle without complaints will strengthen your faith in humility and courage
When a customer's food order arrived incomplete, a Zomato rider went beyond protocol to make it right—refusing compensation and sharing a heartfelt story. Once paralyzed after a tragic accident, he now finds purpose in his job, riding daily not just for income, but to fund his daughter’s dreams. His journey touched thousands, revealing the quiet strength of everyday heroes.
Info Edge shareholders approve Rs 1,000 crore investment in its VC fund
Info Edge, the parent company of Naukri.com, has secured shareholder approval to invest up to Rs 1,000 crore in Info Edge Venture Investment Fund III, enabling further investments in startups. Smartweb Internet Services Ltd. will manage the fund. The company's early investments in Zomato and Policybazaar are now valued at Rs 31,500 crore.
How Swiggy and Zomato are dealing with the slowdown in food delivery
The food delivery market in India is experiencing a slowdown, due to which market leaders Swiggy and Zomato are undertaking measures to come out on top. The rise of quick commerce and limited discretionary spending are among the reasons for the sluggish demand environment.
E-commerce platforms must comply with guidelines on 'dark patterns': Food Minister Pralhad Joshi
Union Minister Pralhad Joshi has directed e-commerce platforms to adhere to government guidelines on 'dark patterns' and conduct internal audits, or face action. The government has identified 13 such deceptive practices and will form a joint working group for enforcement.
Zomato introduces ‘long distance service fee’ on restaurants for deliveries beyond 4 km
Zomato is introducing a "long distance service fee" for deliveries beyond 4 km, potentially straining relationships with restaurant partners who fear commission increases up to 45%. Restaurants are considering protesting the new fees and revised agreements, which include penalties for price disparities and encouraging off-platform orders.
F&O Talk| Nifty awaits trigger as June series kicks off with cautious tone, 25,100 key level: Rahul Ghose
Markets ended cautiously amid trade tensions. Nifty is consolidating, with key levels at 24,164-25,150. Bank Nifty eyes a breakout above 56,100. FII activity suggests caution. IT and Pharma stocks show strength. Reliance and HDFC Bank may breakout. Banking and Midcap IT are favored. Traders should navigate the June series with range-bound strategies and tight stop losses.
Pralhad Joshi to meet stakeholders on May 28 to explore solutions to curb dark patterns
On May 28, Food and Consumer Affairs Minister Pralhad Joshi will convene with major stakeholders to address consumer concerns regarding 'dark patterns.' The meeting aims to enhance the effectiveness of the existing 2023 guidelines designed to prevent and regulate these deceptive practices across digital and offline platforms.
Defence sector has strong tailwinds, but valuations are sky-high: Dinshaw Irani
Dinshaw Irani of Helios Mutual Fund discusses investment strategies. He favors new-age companies and highlights quick commerce potential. Irani expresses optimism about Eternal and fintech companies. He also shares a revised outlook on the auto sector, particularly Bajaj Auto, citing its EV initiatives and export performance. Irani sees potential in the defence sector but notes high valuations.
Eternal shares slip 4% after FTSE, MSCI cut stock weight; $840 million in passive outflows likely
Eternal shares: The changes follow a decrease in the Foreign Ownership Limit (FOL) for the stock. As a result, Eternal's investability weighting in the FTSE All World Index has been cut from 82.74% to 49.5%.
IPL 2025 Playoff tickets to go on sale from May 24; Details inside
The BCCI has announced that tickets for the TATA IPL 2025 Playoffs will be available from May 24, with RuPay cardholders getting a 24-hour early access window. District by Zomato is the official ticketing partner.
Eternal may see outflows worth $840 million following FTSE, MSCI's weight cuts
Eternal, formerly Zomato, may see passive outflows of $840 million as FTSE and MSCI reduce its index weightage due to a Foreign Ownership Limit cut, impacting global investor exposure.
Zepto Cafe pauses services across Delhi, Agra, Chandigarh due to supply chain constraints
Zepto has paused its 10-minute food delivery service, Zepto Cafe, in multiple cities due to supply chain issues from unexpected demand surges. Affecting 44 stores and over 700 gig workers, operations are set to resume by September. The move comes amid rising competition from Blinkit and Swiggy’s rapid delivery services.
Heavy rains, flooding disrupt delivery business in Bengaluru
For quick commerce and food delivery platforms, Sunday and Monday were the worst-affected when they saw a significant drop in order fulfilment. Frequent urban flooding in cities like Bengaluru, one of the biggest markets for food delivery and quick commerce players, has become a big challenge for these platforms.
Info Edge Q4 revenue rises 14% to Rs 750 crore; net profit surges 8x to Rs 678 crore
Info Edge reported a 14% increase in operating revenue in annual terms, reaching Rs 750 crore, driven by growth in recruitment and non-recruitment sectors. Net profit surged eight times to Rs 678 crore, with recruitment solutions contributing significantly at Rs 542 crore.
Zomato and Temasek-backed Shiprocket pre-files DRHP with Sebi for IPO
Shiprocket IPO: The proposed IPO is anticipated to be in the range of Rs 2,000 to Rs 2,500 crore, according to an earlier report by ET. It will comprise a fresh issue component of approximately Rs 1,000 to Rs 1,200 crore.
FTSE Index Rejig: Hyundai Motor, NTPC Green, Swiggy, and Waaree Energies to join largecap segment in June review
Hyundai Motor India, NTPC Green Energy, Swiggy, and Waaree Energies are set to join the largecap segment of FTSE’s global equity indices in the June 2025 review. These recent IPOs have seen mixed listing performances. Meanwhile, ITC Hotels will shift to midcap, and Vishal Mega Mart joins midcaps, with several new additions across smallcap and microcap segments.
Rapido’s gross order value soars 2.5x in FY25 to $1.25 billion
Urban mobility startup Rapido more than doubled its gross order value to $1.25 billion in FY25, driven by new services. However, rising cash burn has pushed it further from profitability. Rapido is now preparing to enter food delivery, hiring from rivals and engaging with major QSR brands and cloud kitchens.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Domestic markets rose sharply on Monday, marking a second straight day of gains, driven by strong buying in IT and auto stocks. Sentiment improved on news of delayed US-EU tariffs, a rising rupee, and monsoon optimism.
Tesla, Taneja, and a tepid IT quarter
Happy Thursday! Tesla’s finance chief Vaibhav Taneja is now one of the highest-paid executives in the tech world. This and more in today’s ETtech Morning Dispatch.
REITs are the new blue-chips for passive income seekers: Ajay Srivastava
Ajay Srivastava, CEO of Dimensions Corporate, advises against investing in traditional sectors like cement and steel, favoring innovative companies with unique infrastructure. He remains invested in Vedanta due to its high dividend yield and irreplaceable mines. Srivastava is wary of PSU stocks, viewing them as extensions of government departments hindering shareholder value.
Groww files draft papers for IPO, eyes $700 million to $1 billion listing
Groww's IPO is being filed under Regulation 59C(5) of the Sebi ICDR Regulations, which permits confidential filing ahead of the formal DRHP. This route is increasingly being adopted by tech firms seeking regulatory feedback before making a public submission.
Shiprocket makes confidential filing for Rs 2,500 crore IPO
Of the total amount, the Zomato and Temasek-backed startup, which helps D2C brands and small sellers sell online, is expected to mop up Rs 1,000-1,100 crore in the form of fresh capital. The confidential filing route allows companies to delay the public disclosure of information, such as the company’s latest financials and the IPO details.
Swiggy losing Rs 18 for every Rs 100 gross sales on Instamart. Can investors make money?
Swiggy's quick-commerce venture, Instamart, is facing significant financial challenges, with substantial losses despite growth in gross order value. Investors are expressing concerns as Swiggy's shares decline, prompting analysts to lower target prices due to intense competition and cash burn. While the company aims for profitability, it needs to improve its financial performance to regain investor confidence.
Groww files for IPO; FirstCry, Nazara, Awfis report Q4 earnings
Wealthtech platform Groww is heading for the public markets after confidentially filing its draft IPO papers. This and more in today’s ETtech Top 5.
Eternal shares could see $1.3 billion FII outflow, MSCI exclusion. Jefferies explains why
As of the March quarter-end, foreign ownership in Eternal stood at 44.8%. Commenting on recent market activity, Vivek Maheshwari of Jefferies noted, “Given the stock’s upward movement and increased volumes since the last shareholding disclosure, we believe FPI holding may have risen to around 46%.”
After Uber, CCPA probes Ola & Rapido over ‘Advance Tip’ for faster rides
The Central Consumer Protection Authority (CCPA) has launched an investigation into Ola and Rapido for allegedly pressuring users to pay advance tips for faster service. This comes a day after Uber received a similar notice.
Big Tata Digital exit; Honasa’s Q4 net profit dips
Top-deck churn continues at Tata Digital as Naveen Tahilyani is leaving after just one year. This and more in today’s ETtech Top 5.
India in a mature bull market, still poised for positive returns: Pankaj Murarka
We must also acknowledge that we’re experiencing a cyclical slowdown—partly due to domestic factors and partly due to global trade headwinds. Yet, India is arguably the best-placed market in the world today.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
ETtech Explainer: Why Uber is in hot water over ‘advance tipping’
In a post on X, union minister for consumer affairs Prahlad Joshi wrote, "The practice of 'Advance Tip' is deeply concerning. Forcing or nudging users to pay a tip in advance, for faster service is unethical and exploitative. Such actions fall under unfair trade practices. Tip is given as a token of appreciation not as a matter of right, after the service".
Zomato, Swiggy shares rise up to 3% as platforms drop rain surcharge waiver for members
Zomato and Swiggy shares increased as they removed the rain surcharge waiver from membership programs, impacting even paying subscribers. This move aims to support delivery partners during adverse weather and enhance profitability, especially with losses in quick commerce. Zomato's food delivery EBITDA rose 55% YoY, while Swiggy's jumped fivefold, highlighting the sector's importance.
Zomato ends rain fee waiver for Gold members as losses balloon
This new rule change takes effect from May 16. The food delivery platform also charges Rs 10 as platform fee for every order. Eternal, the parent company of Zomato, reported a steep 78% year-on-year (YoY) fall in net profit during the March quarter at Rs 39 crore as losses from quick commerce arm Blinkit continued to weigh on the bottomline.
Food delivery service MagicNow powers Magicpin’s hyperlocal growth; eyes 20% order share by FY26
The hyperlocal ecommerce startup, Magicpin, is doubling down on 15-minute food delivery as the segment shows 10% higher monthly retention than Magicpin’s platform average and rivals retreat from the arena.
Get out of credit card reward mirage: Why it’s not the reward earning rate but actual rupee conversion matters
Credit cards entice users with reward points, but the true value lies in the reward point conversion rate. Very often, people don't realize that even credit cards with high point values may have high redemption restrictions and hidden charges that diminish their actual monetary savings. Smart users should prioritize redemption flexibility and low associated fees over sheer point accumulation.
Shiprocket hits IPO runway; Tata ups iPhone ante
Happy Tuesday! Shiprocket is all set to start the process for listing in India, sources told ET. This and more in today’s ETtech Morning Dispatch.
India's middle class is bleeding quietly: Bengaluru CEO says, 'EMIs, inflation, no savings are crushing them'
Indian Middle Class Salary Crisis (Google Trends): A Bengaluru CEO's viral LinkedIn post has thrown fresh light on India’s middle-class crisis. Highlighting stagnant wages, rising living costs, and mounting debt, Ashish Singhal called middle-class salaries “the biggest scam no one talks about.” His post sparked strong reactions online—some backed his concerns, others questioned the data or urged accountability. As India’s middle class quietly bears economic shocks with no bailouts or safety nets, many wonder if the nation is ignoring the slow decline of its economic backbone.
Can Zomato and Swiggy overcome profitability challenges amidst strong competition?
In QC segment, while each of firms reported more than 2-fold rise in GOV and revenue, Zomato's QC service Blinkit outshone Swiggy's Instamart. "Instamart continues to lag Blinkit in growth and incremental unit economics," said Anand Rathi Research.
Shiprocket to soon file confidential prospectus for Rs 2,000-2,500 crore IPO
Shiprocket, backed by Zomato, is preparing to file for an IPO with SEBI, aiming to raise Rs 2,000-2,500 crore. The company, which manages shipments for D2C brands, saw a 21% revenue increase in FY24. Despite losses widening due to past acquisitions, Shiprocket turned cash-flow positive in FY25 and is expanding into payments, cross-border shipping, and quick commerce.
Zomato's parent co leases office space across seven floors in Mumbai’s Andheri
Eternal Ltd, the parent company of Zomato and Blinkit, has leased nearly 1 lakh sq ft of office space in Mumbai's Andheri. The long-term lease, spanning over five years, is with Runwal Realty's Histyle Retail for space in the R Square commercial tower.
Uber to offer logistics services through ONDC network
Uber is set to introduce B2B logistics through the ONDC network, initially focusing on food deliveries before expanding to other sectors like e-commerce and healthcare. This move follows similar initiatives by Ola and Magicpin in the food and beverage segment.
Muted growth, excess supply keep cement sector outlook tepid: Sandip Sabharwal
Sandip Sabharwal suggests that auto, consumer durables, infrastructure, and capital goods sectors, previously subdued due to elections, may see a revival. He expresses concern over platform companies' capital allocation and the lack of moat in quick delivery services. Sabharwal notes muted cement volume growth and high valuations in the EMS space, making it difficult to find value.
Linking F&B taxation to room tariffs is operationally challenging for hotel industry: FHRAI’s K Syama Raju
The industry body says such linking creates a cumbersome process for hotels, requiring them to continuously monitor room rates to avoid unintended GST changes.
Why stock market is down today: Sensex crashes 873 pts, Nifty below 24,700; 6 reasons behind the fall
Stock Market Crash Today: Indian equity markets experienced a sharp decline on Tuesday, with the Sensex and Nifty50 falling significantly due to global concerns triggered by Moody's US credit rating downgrade. FIIs turning net sellers and profit booking after a recent rally further contributed to the downturn. Selling pressure in heavyweight stocks, including HDFC Bank and Reliance Industries, also weighed on the indices.
Hunting for stocks to buy? 36 top bets from 8 portfolios that ruled April
Despite market euphoria, top-performing PMS funds are strategically loading up on 36 unique stocks. These portfolios, delivering strong returns in April, reveal focused bets on midcap financials, digital disruption, and select plays in real estate and defence. While some experts caution against trend-driven segments, these holdings offer insights into where seasoned investors are placing their capital.
Swiggy launches exclusive discount programme for students
For students aged 18 to 25, a 20% discount on Dineout bills above Rs 799 is also offered. This marks another step in Swiggy’s expansion of food delivery use cases. The Students Reward Programme is live in close to 2,000 campuses across 200 cities, including Delhi, Bengaluru, Pune and Mumbai, as well as small towns like Dehradun, Rajkot, Sonipat and Patiala.
