Swiggy
Bengaluru consumer spent Rs 49,900 on pasta! Swiggy's 2024 data reveals mind-blowing insights. Check highlights
Swiggy saw Indians order 83 million biryanis in 2024. Dosa and desserts were also popular choices. Dinner was the preferred mealtime. Delivery partners travelled billions of kilometers. Diners saved crores using Swiggy Dineout. One Mumbai diner spent 3 lakh rupees. Bengaluru led in alcohol orders and romantic dinners.
Cloud kitchen firms cut their losses to cook up healthy numbers
India's cloud kitchen startups achieved revenue growth and reduced losses in FY24 by managing expenses. However, high inflation may impact margins this fiscal year. Rebel Foods, Curefoods, Biryani by Kilo, and Freshmenu showed significant improvements. Zomato and Swiggy's food delivery GOV also grew, with a positive industry outlook despite rising costs.
4 reasons why Axis Capital backs Swiggy for Rs 640 stock price
Axis Capital initiated coverage on Swiggy with a ‘buy’ rating and a ₹640 target, indicating a 20% upside. The brokerage cites strong food delivery and quick commerce growth, a 38% projected revenue CAGR, improving profitability, and a solid leadership team as key drivers.
Over 40 Indian startup leaders transitioned between founding and executive roles in 2024: report
Per data shared by executive search firm Longhouse Consulting, the year saw a trend in the startup ecosystem of some leaders choosing to move away from their cofounder roles to take on senior executive positions, bringing their entrepreneurial expertise to established firms.
Zepto’s cash burn and the high-stakes game of quick commerce
Founded by two Stanford dropouts, quick commerce upstart Zepto has carved out its space alongside Zomato's Blinkit and Swiggy's Instamart. After Swiggy's November listing and Zomato's public debut in July 2021, Zepto remains the only private player among the big three.
Billion-dollar IPOs grabbed headlines in 2024, yet 7 of the best performing ones are under Rs 6,000 cr market cap
In 2024, small companies with market caps of less than Rs 10,000 crore have dominated the top performing IPOs, delivering high returns. Notable outperformers include Jyoti CNC Automation, KRN Heat Exchanger, and Enviro Infra Engineers among others. Big ticket IPOs often face challenges like overvaluation despite the hype.
Swiggy shares jump nearly 2% as JP Morgan initiates coverage, sets Rs 730 target
Swiggy's stock gains attention as JP Morgan gives an 'overweight' rating with a target price of Rs 730, citing growth potential in food delivery and quick commerce, and operational efficiency.
Swiggy shares skyrocket 15% to fresh peak after Axis Capital initiates coverage
Swiggy share price: Swiggy's shares rose 15% after Axis Capital initiated coverage with a 'buy' rating and Rs 640 target, citing strong growth prospects in food delivery and Q-com, with a 20% upside.
Swiggy shares fall over 4% as IPO lock-in expiry ends for 6.5 crore shares
Swiggy share Price: Swiggy's shares dropped by up to 4.4% to Rs 519.50 on BSE in the morning session on Wednesday, following the expiry of a mandatory one-month lock-in period. This release unlocked 6.5 crore shares, or 3% of the company's total outstanding shares, for trading. The decline in stock price is attributed to potential profit-booking by pre-IPO investors.
Zomato set for index inflow as Swiggy soars post IPO
While Zomato leads when it comes to cash flows, its money-losing rival appears to be scoring higher where sentiment is concerned. This partly explains the 53% surge in Swiggy’s share price since its listing last month — a remarkable comeback by a stock that was expected to struggle on debut.
Swiggy shares climb over 5% after CLSA initiates coverage with buy rating, sees TP at Rs 708
Swiggy share price: Swiggy's shares surged after CLSA initiated coverage with a Rs 708 target price, citing significant growth potential in food delivery and quick commerce. CLSA expects Swiggy's execution to improve, leading to accelerated growth and profitability. Swiggy reported a 30% YoY revenue increase in Q2 FY24, and aims to expand its Instamart and Scootsy Logistics operations.
Swiggy launches invite-only membership programme One Blck
The offering, which is a tier above its existing loyalty programme, aims to enhance the experience for premium customers and drive growth across all its business segments. One Blck offers members faster delivery and an on-time guarantee for food orders. Those dining out will get benefits like complimentary cocktails, drinks, or desserts.
Accel nears close of new India fund at $650 million
Accel India has secured $650 million for its eighth fund, while its global growth fund has raised $1.35 billion. A portion of this will be invested in pre-IPO rounds of Indian startups, bringing Accel's total India commitments to nearly $3 billion. This move comes as several Accel-backed companies, including Bluestone, are preparing for IPOs.
Disruptive 10-minute deliveries spread to India’s food business
Indian food delivery apps race to deliver meals in 10 minutes. Zomato, Swiggy, Zepto and others battle for impatient consumers. Some companies use in-house kitchens, others partner with restaurants. This rapid delivery raises concerns about food quality and health. The market is expected to grow significantly. Companies assure quality is maintained despite the speed.
Hemang Jani likes Zomato, Swiggy as tactical bets; how would you like to play these platform companies?
Zomato's market cap nears 3 lakh crore rupees, exceeding companies like Tata Motors. This surge is driven by growth prospects. Swiggy, trading at a 30-35% discount, presents a compelling investment opportunity. Both companies are expected to grow. Zomato's inclusion in Nifty adds to its appeal. Jani recommends short-term tactical plays on both platforms.
Zomato CEO Deepinder Goyal crowned India's 2nd biggest self-made entrepreneur, Swiggy founders 3rd: Hurun list
Hurun India reports Deepinder Goyal as India's second-largest self-made entrepreneur following Zomato's valuation surge. Radhakishan Damani retains the top spot. The list highlights the impact of self-made entrepreneurs, with their businesses valued at $431 billion. Zepto's Kaivalya Vohra, 21, is the youngest entrepreneur on the list.
Swiggy shares climb 7% after Q2 results. Should you buy, sell or hold?
Swiggy share price: Swiggy shares climbed following strong Q2 FY25 revenue growth, despite a reported loss of Rs 625.53 crore. Innovations like Bolt for 10-minute food delivery and Instamart expansion contributed to a 30% YoY increase in gross order value, with strong broker expectations for future growth in food delivery and quick commerce.
Swiggy shares rally over 11%, extend gains after narrowing quarterly losses
Swiggy share price: Swiggy shares surged nearly 13% over two sessions, driven by narrowing losses and strong Q2 results. Revenue rose 30% YoY to Rs 3,601.5 crore and 11.77% QoQ.
AMFI Rejig: 11 midcap stocks set for upgrade, largecap threshold could hit Rs 1 lakh crore
The Association of Mutual Funds in India (AMFI) is expected to announce its semi-annual stock categorization in the first week of January. Several mid-cap stocks are anticipated to be upgraded to the large-cap segment, with the large-cap cut-off likely to be set around Rs 1 lakh crore. Based on current market-cap levels, AMFI may raise the large-cap threshold to approximately Rs 1 lakh crore, compared to Rs 84,000 crore in June 2024
Zomato, Swiggy shares in focus as GST council considers cutting food delivery GST to 5%
Shares of Zomato and Swiggy are likely to remain in focus due to the GST Council's potential tax cut on food delivery charges by e-commerce platforms to 5%, effective from January 2024. Zomato's shares closed 2% higher, while Swiggy's surged 11.7%.
Stocks in news: HDFC Bank, Swiggy, Vedanta, Zomato, Mindspace REIT, Religare Enterprises
GST Council, chaired by the federal finance minister, may lower the tax on food delivery charges by e-commerce operators to 5% from 18%, according to reports.
Swiggy shares rally over 9% ahead of first Q2 results after listing
Swiggy Q2 results: Swiggy shares rose 9.4% to Rs 542.10 on the BSE. The company will release its Q2 financial results today. Swiggy's IPO had significant subscriptions and showed good investor interest. The company has faced net losses since inception but saw revenue double in FY24. In Q1, Swiggy reported a loss of Rs 611.01 crore compared to the same period last year.
Swiggy Q2 operating revenue rises 30%, net loss falls marginally
Food and grocery delivery company Swiggy's operating revenue rose by 30% year-on-year to Rs 3,601 crore for the July-September quarter. The net loss slightly decreased to Rs 625 crore. Swiggy's food delivery continued to achieve industry-best growth, and its new 10-minute delivery service, Bolt, made up 5% of food deliveries shortly after launching.
Buy Swiggy, target price Rs 550: JM Financial
JM Financial has given a buy call for Swiggy with a target price of Rs 550, even though the current market price is Rs 560. Swiggy's Q2 FY25 results were decent, with sequential improvement in most operating metrics. While JM Financial maintains a cautious outlook, they raised their GOV target multiple for Instamart due to improved growth and profitability.
ETtech Explainer: What’s behind the Rs 803-crore GST demand on Zomato?
Indian food delivery giant Zomato received Rs 803 crore GST notice. The government says Zomato should pay tax on delivery fees. Zomato argues it passes fees to delivery workers. This dispute covers October 2019 to March 2022. Zomato plans to fight the demand. A similar notice was sent to Swiggy. This case could impact other delivery services.
Hot Stocks: Brokerage view on Godrej Properties & Divi’s Lab; CLSA initiates coverage on Swiggy
Leading brokerages are bullish on several key stocks. CLSA initiates coverage on Swiggy with a "Buy" rating, projecting a 31% upside. Jefferies maintains a "Buy" on Godrej Properties, forecasting 32% growth. Citi reiterates its "Buy" rating for Divi's Laboratories, anticipating a 15% increase despite a legislative delay.
Startups that took the IPO route in 2024
Twelve Indian startups, including Go Digit General Insurance, Awfis, Ixigo, Ola Electric, FirstCry, TBO Tek and Swiggy, went public in 2024, demonstrating resilience amid funding challenges. Mobikwik and Bluestone are also preparing for IPOs, further highlighting the growth of India's startup ecosystem and investor confidence in new-age tech enterprises.
Neutral on Swiggy, target price Rs 475: Motilal Oswal Financial Services
Motilal Oswal Financial Services has a neutral rating on Swiggy with a target price of Rs 475. Swiggy's net revenue has increased while its net loss has declined. It expects the adjusted EBITDA margin to reach breakeven by 3QFY26. The food delivery and quick commerce businesses are projected to grow significantly in the coming years.
Swiggy Q2 Results: Cons loss narrows YoY to Rs 625 crore, revenue jumps 30%
Swiggy Q2 Results: Swiggy's food delivery business nearly doubled profitability, with adjusted EBITDA at Rs 112 crore, a 1.6% margin, and GOV growing 5.6% QoQ to Rs 7,191 crore. The company’s new 10-minute delivery service, 'Bolt,' now contributes 5% of total food deliveries within just 8 weeks. Swiggy Instamart saw strong performance, with GOV growth accelerating 24% QoQ to Rs 3,382 crore, and overall orders up 21% QoQ.
Swiggy shares jump 9.4%, market cap hits Rs 1.14 lakh crore ahead of Q2 results
On Monday, when Swiggy had announced the expansion of its 10-minute food delivery service, Bolt, to over 400 cities and towns across India, its shares had closed 5% up. For the June quarter, the company reported operating revenue of Rs 3,222 crore while its net loss widened to Rs 611 crore from Rs 564 crore a year earlier.
Average Swiggy order value can show double-digit growth every year; no plan to raise fresh funds: Rahul Bothra
Swiggy, with a healthy cash balance of over ₹8,000 crore, has no immediate fundraising plans. Their food delivery business is profitable and generating cash, while the quick commerce segment is projected to achieve profitability within six to seven quarters. They aim to double their dark store footprint by March 2025 and increase average order value at a double-digit pace annually.
Swiggy shares jump over 5% on expanding 10-minute food delivery service to 400 cities
Swiggy's shares rose 10% after its muted debut on the exchanges. Several brokerages, including UBS, have initiated coverage, with a Buy rating and a target price of Rs 515. UBS highlights Swiggy’s growth potential, driven by its improving margins, scale, and evolving business model focused on online food delivery and quick commerce, positioning it for long-term success.
Mobikwik IPO fully subscribed; Swiggy shares drop
The public issue of Mobikwik was fully subscribed within an hour of opening. This and more in today’s ETtech Top 5.
Can Swiggy continue to trade at a discount to Zomato which has superior growth?
Rahul Jain, Director at Dolat Capital, indicates that Swiggy may face profitability challenges due to increased competition in quick commerce. Although Swiggy is making strides in innovations like 10-minute deliveries, it trails Zomato in execution and profitability. This gap may keep Swiggy's valuation significantly lower than Zomato's despite potential market share improvements.
Year in Review: India’s startup milestones by the numbers
India has emerged as the third largest startup hub globally, driven by affordable internet, a young workforce and flexible government policies. The ecosystem spans diverse sectors, including fintech, edtech, health tech and ecommerce, and is home to over 100 unicorns, with six being added to the list this year.
Blinkit enters 10-minute food delivery space with Bistro app
The ultra-quick service, which has been rolled out in a few localities of Gurugram, offers food items like samosas, burgers, sandwiches and pastas. In 2022, Zomato, through its primary offering, had experimented with 10-minute delivery of food in Gurugram but later discontinued the pilot programme. It later launched Zomato Everyday, which offers meals prepared by home cooks from centralised kitchens in relatively shorter timeframes.
Tech veterans ditch C-suites for the AI grind
Senior executives from companies like HP, Dell-EMC, and NTT are leaving their positions to start AI ventures. Sharad Sanghi from NTT India started Neysa, and Rajiv Srivastava, Rajesh Janey, and Rajnish Gupta founded CoreOps.AI. Ankur Jain started Jivi AI in healthcare. These executives see a significant opportunity for innovation with AI in India.
Swiggy Instamart at an inflection point amid rising competition: CEO Sriharsha Majety
Swiggy's quick-commerce arm Instamart is expanding its dark store network and doubling its store count to stay competitive in the quick-commerce sector. CEO Sriharsha Majety outlines plans for larger stores, including 'megapods' that will offer an extensive selection of items with quick delivery times. Enhanced investments aim for sustainable growth.
Was Zomato CEO Deepinder Goyal booted out of Shark Tank India 4?
Shark Tank India 4 is set to premiere in January 2025, and its newly unveiled trailer has already generated excitement among fans. This season will feature new additions to the panel of Sharks, but the absence of some well-known personalities has raised questions.
Year in Review: Zepto's growth, and big moves in quick commerce
The quick commerce industry is giving a new shape to the way consumers make their daily purchases. Speed of delivery has become the key factor. Founded by two Stanford dropouts, Zepto raised over $1 billion in just five months. Earlier in October, ET broke the news about Zepto’s plans to onboard local investors, initially targeting $150 million.
Zepto to launch standalone app for 10-minute food delivery service
Aadit Palicha, CEO of Zepto, in a social media post, announced that the company is launching a separate app, called Zepto Cafe, the next week. He also added that although app might not be perfect from the first day, it is worth it to launch the app fast.
Rail Vikas Nigam, ICICI Pru, Polycab among stocks likely to get AMFI large-cap tag
Mutual fund managers must consult the AMFI classification to balance their portfolio according to the category requirement. Recategorisation need not lead to fresh inflows or outflows. Active equity fund manager do not need to change the stock weights in their respective portfolios to match the AMFI share categories.
Zomato shares rally 6% to fresh high, cross Rs 300 for first time
Zomato share price: Zomato shares surged up to 6% on Thursday, reaching a fresh all-time high of Rs 304.50 on the BSE, driven by investor optimism in food delivery and quick commerce sectors. The stock, set to join the Sensex by December-end, is nearing a Rs 3 lakh crore market capitalization. Positive earnings from rival Swiggy's Q2 boosted investor sentiment towards Zomato.
Great Manager Awards 2024: Celebrating leadership that combines innovation with empathy
The ninth Great Manager Awards 2024 celebrates leaders excelling in innovation and growth with a human connection, recognising exceptional managers, organisations, and HR leaders. The CEO Insights Roundtable highlighted the importance of balancing technology with empathy, focusing on transitioning to customer experiences and inclusive team-building.
Swiggy shares rally another 8% as brokerages back growth potential
Swiggy share price: Swiggy's stock rose 8.1% to Rs 499 after UBS initiated coverage with a "Buy" rating and Rs 515 target. Analysts highlight growth potential amid operational challenges and competition.
Accumulate large FMCG stocks on dips; be bullish on non-ferrous metals: Neeraj Dewan
Market expert Neeraj Dewan suggests accumulating large FMCG stocks like HUL and Britannia on dips. He believes the impact of China's stimulus on metal stocks, especially non-ferrous, will be less severe than before. Dewan sees continued growth in quick commerce, favoring established players like Zomato and Swiggy, and recommends green energy stocks like Tata Power and GIPCL.
Real Estate, Financials and Defence to lead market recovery: Neeraj Dewan
So, whether it is infrastructure which I feel is one space where the government spending is also picking up and should pick up faster now when you are reaching close to the end of the third quarter. So, infrastructure is one space that I am very positive.
FMCG giants need some tricks as India’s consumption growth faces a critical slowdown
India's consumption growth faces obstacles such as food inflation, credit tightening, and supply chain disruptions. Despite this, rural demand, driven by good monsoons and election spending, is surging. Major FMCG companies are adapting by offering value packs and using e-commerce strategies to maintain growth.
With 158 orders per minute on Swiggy, this Indian dish has been crowned as the 'undisputed king of food kingdom'
Biryani remains India’s most beloved dish, with 83 million orders in 2024, marking its ninth consecutive year at the top. Dosa followed with 23 million orders, while Bengaluru’s consumer spent ₹49,900 on pasta. Dinner dominated with 215 million orders. The Chicken Roll was the top snack, and the Chicken Burger led midnight cravings, with Chicken Biryani staying a constant favorite.
Swiggy's 10-minute food delivery service Bolt contributing 5% to firm's overall food orders
For the company, this expansion marked a major scaleup of an experiment it launched a few months ago to strengthen growth in its food delivery segment. Swiggy's GOV from food delivery grew 14% on year to Rs 7,191 crore.
Zomato becomes first new-age tech firm to join Sensex: what’s the significance?
Zomato's inclusion in the 30-stock benchmark index is driven by a remarkable rally in its stock. Shares of the Deepinder Goyal-led company have surged 45% over the past six months and 133% in 2024, compared to a 10% gain for the Sensex. Further bolstering its financial position, Zomato raised Rs 8,500 crore through a qualified institutional placement (QIP) largely led by domestic investors, the company announced on November 29.
Should you start preferring Swiggy over Zomato now? Deepak Shenoy answers
Deepak Shenoy highlights Swiggy's potential as an investment, suggesting giving it two quarters post-IPO for better evaluation. He notes Swiggy's initial challenges, like stock option-based compensation, but believes its rising performance and Instamart's growth make it worth watching. Additionally, Shenoy mentions cautious optimism for cement stocks and LIC's improving market share and premium growth.
Restaurants body cautions members of aggregator disruption in dine-in space
The National Restaurant Association of India (NRAI) cautioned its members about the potential downsides of deep discounting and data control by food delivery platforms like Swiggy and Zomato. The NRAI raised concerns about aggregators leveraging customer data for their own brands and employing aggressive discounting tactics that could harm restaurants' long-term viability. The CCI is currently examining these issues.
Swiggy shares rally 4% as UBS initiates coverage with Rs 515 target price
Swiggy share price: Swiggy shares rose 4% after UBS initiated coverage with a 'buy' rating and target price of Rs 515, citing growth potential in online food delivery and quick commerce amid improving margins.
UBS initiates coverage on Swiggy with a 'Buy' rating
The risk-reward for the stock is attractive as it is valued at an estimated Enterprise Value (EV) to Revenue of 6.2 times, as against 9 times for Zomato, said the brokerage.
Top startup and tech 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.
Unacademy-Allen deal; Swiggy Q2 earnings
Happy Wednesday! Unacademy and Allen Career Institute have been in talks to strike a deal but the terms are yet unclear. We have details of the potential transaction in today’s ETtech Morning Dispatch.
Is it time to bottom fish in autos stocks or should you avoid them now? Gurmeet Chadha answers
Gurmeet Chadha, CEO of Complete Circle Consultants, discusses the current state of the Indian financial markets. He notes that while valuations in the capital market are stretched, exchanges and depositories remain a good long-term investment. He advises selectivity in the auto sector, favoring Mahindra & Mahindra and certain auto ancillaries.
Year in Review: Decoding startup funding in 2024
Happy Friday! Indian startups show early signs of funding recovery after 2023 slowdown. This and more in today’s ETtech Morning Dispatch.
Year in Review: Startup funding freeze saw signs of thaw in 2024
Indian startups raised slightly more funding in 2024 than in 2023, but the ecosystem remained slow. Fewer deals were closed. Several new unicorns emerged. Some existing unicorns saw valuation corrections. The IPO market surged, with some companies going public at lower valuations. Investors are cautiously optimistic about the future, citing improved public market performance and India's strong economic outlook.
Hot Stocks: 3 stocks that may give returns between 13-26%
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 13% and 26% as per analysts’ price targets.
Digital lending slowdown; Swiggy Instamart’s order size challenges
Happy Thursday! Regulatory scrutiny is taking a toll on the growth of digital lending startups. This and more in today’s ETtech Morning Dispatch.
Swiggy’s Instamart pushes for higher average order value; analysts say metric's growth key to improve profitability
Swiggy Instamart's average order value (AOV) of Rs 499 has come in low compared to its competitors like Blinkit and Zepto. The number of items offered on Instamart is going up and it expects the AOV also to go higher, Majety said. However, analysts have emphasised the need for the quick commerce platform to push this metric to sustain revenue momentum and maximise profitability.
KKR invests in Rebel Foods; Indian startup leaders transition
Private equity major KKR has acquired a stake in Rebel Foods. This and more in today’s ETtech Top 5.
As onion prices near Rs 100, Delhi man's 'tearful' request for extra onions from Swiggy restaurant goes viral
A Delhi resident used a food delivery app to get free onions. Onion prices have increased significantly in Delhi NCR. The man pleaded with the restaurant to send extra onions with his order. His flatmate shared the bill on Reddit. The restaurant complied with the unusual request. Onion prices have reached a five-year high.
Sebi curbs & stock broking startups; UPI One World expansion
Happy Thursday! Startups which entered the stock broking space despite regulatory challenges are finding ways to keep growing. This and more in today’s ETtech Morning Dispatch.
Stocks in news: PB Fintech, Swiggy, Reliance Power, Honasa Consumer, Wipro
Reliance Power said Solar Energy Corporation of India Limited (SECI)'s debarment notice issued to the company has been withdrawn with immediate effect.
Swiggy Q2 earnings; MapmyIndia ducks B2C investment
Swiggy has posted a 30% YoY growth in its operating revenue in Q2. This and more in today’s ETtech Top 5.
Quality and low volatility stocks poised to shine in 2025: Karthik Kumar
So, we have seen a good healthy rally and what we have seen over the last three months is a natural, is also part of the markets and it is a very natural part of the markets where markets do cool off at certain points in time. This time around they were driven by essentially two aspects.
Hurun releases list of India's top 200 self-made entrepreneurs: Check top 10 founders of the millennia
IDFC FIRST Bank and Hurun India released the second edition of their top 200 self-made entrepreneurs list. Radhakishan Damani secured the top spot. Avenue Supermarts, his company, is valued at over INR 3.4 Lakh Cr. Deepinder Goyal's Zomato ranks second. The list features both unicorn and non-unicorn companies. Mumbai, Bengaluru, and Gurugram are key headquarter locations for these top companies.
F&O expiry and Fed concerns driving broad-based selling: Rahul Shah
So, to play indirectly or directly whatever you say, but in the list is where the comfort is more in terms of valuation is like Tata Power is what we have been liking and we have been adding in our portfolios for our clients to play this space.
Stocks in news: Swiggy, Wipro, Torrent Power, Ambuja Cements, Tata Power, BPCL
Domestic markets started the week positively, rising over half a percent. Shares of Swiggy, Wipro, Tata Power, and others will be in focus due to various developments such as financial reports, legal challenges, partnerships, and acquisitions. Bajaj Finance and BPCL also made significant moves.
Neutral on Swiggy, target price Rs 475: Motilal Oswal Financial Services
Motilal Oswal Financial Services has given Swiggy a neutral rating with a target price of Rs 475. They believe that Swiggy's food delivery business is stable and will continue to grow. However, they are concerned about the gap between Instamart and Blinkit in the quick commerce space. On mid-mile and last mile variable costs, Instamart is, however, strikingly, better than Blinkit.
Swiggy expands 10-minute food delivery service Bolt to over 400 cities
The massive expansion of the rapid food delivery service by Swiggy comes at a time when startups are increasing their presence in this area. Zepto last month said it was scaling up its Cafe business, through which it delivers a limited set of food items from its quick commerce dark stores.
AMFI reshuffle: RVNL, Kaynes among 19 stocks tipped for an upgrade in 2025
Based on current average market-cap levels, AMFI is likely to raise the largecap cut-off to around Rs 1 lakh crore (up from Rs 84,000 crore in June 2024) and the midcap threshold to approximately Rs 32,900 crore (up from Rs 27,500 crore in June 2024).
Supreme Industries positioned for growth amidst raw material price volatility: Chakri Lokapriya
When the companies start putting earnings, we are likely to see a lots of downgrades of earnings So, against that backdrop bank loan growth has to pick up.
Metals sector faces headwinds amid China slowdown and subdued LME prices: Mayuresh Joshi
With all this in mind, the expectations in terms of the core EMS players, the immediate opportunity that probably comes through might be semiconductor chips, expectations in terms of more work coming through as more manufacturing is expected out of India, whether it is smartphones, whether it is LED TVs or whether it is high-end refrigerators as well.
Year in Review: 2024’s biggest executive moves in tech & startups
Happy Tuesday! ETtech’s annual list of the most important CXO exits and movements in the startup and tech industry is here. This and more in today’s ETtech Morning Dispatch.
2024 Year in Review | who’s in, who’s out: the biggest executive moves in Indian tech & startup sector
Indian tech startups saw a wave of CEO changes in 2024. Flipkart, Swiggy, DealShare, Tata Digital, and others appointed new CEOs. The fintech and edtech sectors also experienced leadership shuffles. Paytm Money, PhonePe, and Byju's all had CEO transitions. These changes reflect a focus on growth and profitability in the evolving tech landscape.
ET Awards for Corp excellence: Manufacturing takes the gold in silver jubilee year
The ET Awards celebrated India's manufacturing resurgence. Kumar Mangalam Birla won Business Leader of the Year. Mahindra & Mahindra was named Company of the Year. Ashwini Vaishnaw received the Business Reformer award. Venu Srinivasan got the Lifetime Achievement Award. Vishakha Mulye won Businesswoman of the Year. The jury recognized companies with strong performances and impactful individuals.
ET Awards 2024: Zomato wins Emerging Company award; here's how profitability milestone, diversification push propelled it to Sensex
Zomato, a pioneer in India's online food delivery sector, achieved profitability and a $32 bn market cap. Its journey includes a successful IPO, expansion into quick commerce with Blinkit, and entry into the Sensex. Zomato's diversification now includes ticketing, competing with BookMyShow, and its quick commerce venture challenges giants like Amazon and Flipkart.
Tax panel may consider lowering GST on online food delivery fees, report says
The GST Council, chaired by India’s finance minister, may reduce the tax on food delivery charges by e-commerce platforms from 18% to 5%, effective January 1, 2024, according to sources. However, food delivery platforms like Zomato and Swiggy will not be allowed to claim tax credits. This follows a tax demand from Zomato.
13-14% market returns possible with GDP and efficiency gains for next 5 years: Sandip Sabharwal
So, people need to wait either for an overall midcap, smallcap correction when these stocks normally fall more than the market or due to some fall due to bad results, bad news, etc.
