Swiggy
Delhivery CEO Sahil Barua resigns from Swiggy board
In an exchange filing, the cofounder of the logistics services firm cited increased professional commitments for the action. Earlier this month, Delhivery acquired its rival Ecom Express in an all-cash deal for Rs 1,407 crore.
Swiggy receives Rs 7.6-crore notice from Pune profession tax department
Swiggy has received a Rs 7.6 crore tax notice from Pune's profession tax department for FY22, adding to total demands nearing Rs 167 crore. In addition, authorities have also flagged unpaid Goods and Services Tax (GST) amounting to over Rs 327 crore by the company, which went public in November 2024.
HSBC cuts target price on Zomato and Swiggy on intense competition in Q-Comm industry
HSBC has revised target prices for Zomato and Swiggy, citing intense competition in the quick commerce sector. While maintaining a 'Buy' rating for Zomato, the target price decreased to Rs 280. Swiggy's rating remains 'Hold,' with a reduced target of Rs 385. Zomato shares rose following the announcement of liquidating its Netherlands-based subsidiary, a move to streamline international operations.
Swiggy Instamart launches bulk purchase discounts as qcomm firms push for bigger cart sizes
Swiggy Instamart launched Maxxsaver, offering up to Rs 500 off bulk orders. Automatically available to all users, it aligns with trends in quick commerce, where platforms like Flipkart, BigBasket, and Zepto offer similar discounts. Swiggy recently expanded to 100 cities, aiming to boost average order values.
Stock market slump hits new-age tech firms in 2025; Zomato, Swiggy, others in the red
Bhavish Aggarwal-led Ola Electric, food delivery aggregators Zomato and Swiggy and FirstCry are among stocks hardest hit in 2025. Investors have turned cautious amid a broader global market slump driven by rising interest rates, geopolitical tensions, and renewed inflation fears. Here's a look at how startups are faring on Dalal Street.
Swiggy shares in focus after Rs 158 crore tax demand, firm plans to appeal
Swiggy shares: Earlier, the Bengaluru-based company received notices from the Income Tax Department regarding unpaid dues related to cancellation charges paid to merchants in the financial years 2018 and 2019, amounting to Rs 1.1 crore. Swiggy had stated last month that it would be appealing those assessment orders as well.
Swiggy faces Rs 158 crore tax demand, plans to appeal
Swiggy received an assessment order for Rs 158.25 crore unpaid dues, citing tax issues on cancellation charges and interest income. This relates to the financial year 2022. During this year, it did not pay tax on cancellation charges paid to merchants and the interest income on income tax refund, the order said.
Flipkart Minutes to expand dark store network to 800 by 2025-end: CEO Kalyan Krishnamurthy
Speaking during Walmart's annual investment community meeting, Krishnamurthy said, "The customer segment for this particular product is a sophisticated one, with high expectations. The most important aspect to make this business successful is the supply chain behind it. It has to be scalable, technology-enabled, agile and reliable."
From pet insurance to GIFs: How companies are adapting to attract and retain Gen Z employees
Corporate India is adapting to attract Gen Z employees by offering flexible work policies, unique perks like pet insurance, and emphasizing work-life balance. Companies such as Myntra, Swiggy, and RPG Group are redesigning their HR strategies to engage this younger workforce, focusing on inclusivity, upskilling, and modern communication methods to retain top talent.
This Dhoni fan is now an Internet sensation, lands brand deals
Aaryapriya Bhuyan, a Chennai Super Kings fan, became an internet sensation. Her reaction to M.S. Dhoni's wicket went viral. Social media users shared the clip widely. Brands like Swiggy and Yes Madam noticed her. They featured her in digital campaigns. Her Instagram following increased rapidly. The match between CSK and Rajasthan Royals led to her fame.
Naga Chaitanya opens second cloud kitchen in Hyderabad. Can order from Swiggy, Zomato. Check menu and price
Actor Naga Chaitanya has launched his second cloud kitchen, Scuzi, in Hyderabad after the success of his Pan-Asian brand Shoyu. Inspired by a pizza place he visited in Goa, Scuzi offers comfort food with a global twist and is now available for delivery on Swiggy and Zomato. The menu features items like The Home Run Burger, Truffle Pasta, Chowringhee-style Pizza, and Churros. Chaitanya says the goal is to serve “a comforting, wholesome meal that feels like home.”
TCS defers wage hikes; Google layoffs
TCS is deferring annual salary hikes amid global business headwinds. This and more in today’s ETtech Top 5.
Zepto nears $4 billion annualised gross order value, halves burn rate
Zepto CEO Aadit Palicha announced that the company is nearing $4 billion in annualised gross order value (GOV), reflecting 300% year-on-year growth. The company has also reduced its EBITDA and operating cash flow burn by 50%. ET had reported earlier that Zepto is in talks for a $250 million secondary equity sale ahead of its public listing.
Taxman opens the parcel: GST sleuths probe restaurant packaging charges
Indian tax authorities are investigating whether restaurants have evaded taxes on packaging charges, following scrutiny of 'food and delivery' taxes. The GST department has issued summons to eateries listed on platforms like Zomato, seeking GST details on packaging fees since January 2022. While GST on food isn't disputed, authorities question if packaging charge collections reached state coffers.
Getting the basics right; India’s tariff shield
Union minister Piyush Goyal called on startups to expand their vision, but what stands in the way? This and more in today’s ETtech Top 5.
ETtech Explainer: How Karnataka’s gig worker tax could change the app economy
Karnataka is considering a differential levy on app-based platforms to fund a social security scheme for gig and platform workers. The move, if approved, could set a precedent for other states. The proposed framework aims to create a dedicated welfare fund without initially passing the cost onto consumers or workers.
UPI’s growth pangs, Japan eyes Indian chips
Happy Monday! Yearly growth for UPI is slowing as its user base expands. This and more in today’s ETtech Morning Dispatch.
New-age firms' Monday blues; Juspay's near-unicorn round
The global stock market carnage has come for India’s freshly-listed new-age tech firms. This and more in today’s ETtech Top 5.
Stocks in news: Tata Consumer, Swiggy, Godavari Power, Tata Motors, Indian Bank
Tata Consumer received an assessment order of Rs 262 crore for FY22 disallowances. The company says that the demand is not maintainable and co will appeal against the order.
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.
‘Don’t miss Zepto or Swiggy’: Techie shares how her life changed after moving from Bengaluru to Amsterdam
A Bengaluru techie, Pratim Bhosale, shared her transformative experience after moving to Amsterdam, highlighting improvements in well-being and lifestyle. While praising Amsterdam's public transport, clean environment, and quality groceries, she noted higher living costs and a competitive rental market. Bhosale prefers India for healthcare and finds tech salaries in Amsterdam comparable to Bengaluru.
₹1.8 crore a year and still in debt? Bengaluru engineer’s viral budget sparks outrage
A Bengaluru software engineer earning ₹1.8 crore annually has triggered a viral debate after claiming he loses ₹57,000 every month despite his high income. In a detailed LinkedIn post, he listed luxury expenses including fine dining, travel, and premium purchases, calling Bengaluru “utterly unlivable.” The post, later clarified as satire, drew sharp reactions online, highlighting growing concerns over lifestyle inflation, financial planning, and the pressures of modern urban living in India’s tech capital.
Fintechs plug into EVs; Groww’s CCI nod
Happy Wednesday! Fintech startups are tapping into India’s growing commercial EV market. This and more in today’s ETtech Morning Dispatch.
boAt owner Imagine Marketing files draft IPO papers through confidential pre-filing route
Imagine Marketing, the parent company of boAt, has confidentially filed for an IPO with Sebi. This marks their second attempt to go public, with flexible options allowing adjustments of up to 50% until later stages. Other Indian companies have also recently used this secretive pre-filing route.
PhysicsWallah is eyeing buys to up UPSC test-prep business
PhysicsWallah is currently focused on the JEE (engineering) and NEET (medical) segments within the test prep market. It has more than 150 offline centres catering to aspirants preparing for these exams. The company offers coaching for almost three dozen examinations. UPSC and chartered accountancy are among its recent additions, where it is starting to witness traction.
BofA lowers its ratings on Swiggy and Zomato
The brokerage has downgraded Zomato from 'Buy' to 'Neutral', and cut its price target to ₹250 per share, and Swiggy to 'Underperform' from 'Buy' with price target slashed to ₹325.
Cricketer Jasprit Bumrah backs luggage startup Uppercase as an investor
The partnership includes co-developing a product line for sportspersons. This reflects a wider trend of cricketers turning investors. Uppercase, backed by Accel, aims to break even soon and may explore a public listing in the future.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 30%
As the dollar index declines, most emerging markets are seeing some sort of a bounce-back. While there is nothing wrong in changing your stance from bearish to neutral, it would be better to be wary of some of the street narratives which are likely to come, one of them being about the paint industry. Also, because there is a fair amount of uncertainty for companies that have relationships with global trade, either as exporters or needing raw material from other countries, it would be better to stick to ones that are focused on the domestic market.
Healthtech startup Stance Health raises $1 million in pre-seed round led by General Catalyst
Antler, DeVC (backed by Z47), and angel investors Swiggy cofounders Sriharsha Majety and Nandan Reddy, and Onsurity cofounder Kulin Shah also participated. The funds will be used to scale its musculoskeletal care model in India, enhance its proprietary technology platform, and expand its team and physical centres across Bengaluru and other cities.
Hotmail founder Sabeer Bhatia indirectly roasts Shark Tank India judges after Namrata Thapar calls him out
Hotmail co-founder Sabeer Bhatia reignited a public debate on India’s startup ecosystem by urging investors to support bold, disruptive ideas instead of easy-to-scale delivery startups. His comments, made on social media, appeared to be a subtle response to Shark Tank India judge Namita Thapar, who had earlier criticised Bhatia for questioning the work ethic of Indian engineers. The exchange sparked mixed reactions online, with some supporting Bhatia’s call for deeper innovation and others defending the practicality of current startup models.
TCS Q4 profit dips; Urban Company heads to D-Street
IT bellwether TCS kicked off earnings season with muted Q4 financials. This and more in today’s ETtech Top 5.
Swiggy to Ola to Bajaj Housing: Almost all the Rs 4,000 crore-plus marquee IPOs of FY25 in red
That the marquee IPOs in the fiscal year 2025 have not performed up to their expectations is no longer a secret. But the nature of the poor show by some of these companies is quite significant.
Startups rethink IPOs; US visa dilemma for students
Happy Tuesday! The global market rout may push Indian startups to reconsider IPO plans. This and more in today’s ETtech Morning Dispatch.
Quick commerce yet to click for electronics, but AC sales may heat up
Quick commerce is slow to catch on for high-value electronics like smartphones with less than 1% of total sales. However, electronic companies are optimistic about higher sales for air conditioners and coolers during summer, aiming at ten-minute delivery. Brands like Daikin, Godrej, and LG are exploring partnerships with quick commerce platforms to capitalize on impulse purchases.
Amid Trump’s tariff turmoil, startups may hold off IPOs over valuation concerns
Almost a dozen venture-backed startups are in different stages of going public in the current financial year. These include Bluestone, Ather Energy, PhysicsWallah, Shadowfax, Zepto, Captain Fresh, Groww, Lenskart, Meesho, OfBusiness, Urban Company and Boat. Bluestone, Ather Energy, Boat and PhysicsWallah have already filed their draft papers with the stock market regulator.
Shriram Finance shares in focus after RBI approves 100% stake acquisition in Shriram Investments Holdings
Shriram Finance shares: The central bank has approved the appointment of Umesh Revankar, Executive Vice Chairman, and Parag Sharma, Managing Director & CFO, as Directors on the board of Shriram Overseas Investments, contingent upon meeting specified conditions.
Apple’s India hedge; Zepto’s order value swells
Apple’s iPhones led India’s smartphone exports in FY25 to a record Rs 2 lakh crore. This and more in today’s ETtech Top 5.
Retail rush, IPO fever push FY25 fundraising to record Rs 20 lakh crore
Indian corporates shattered fundraising records in FY2024-25 by raising Rs 19.96 lakh crore through equity and debt instruments. Equity mobilisation doubled to Rs 3.71 lakh crore, driven by significant IPO activity and a resurgence in Qualified Institutional Placements. Debt fundraising also reached an unprecedented Rs 11.12 lakh crore.
Flipkart Internet receives Rs 3,249 crore infusion from Singapore parent
The board of the marketplace arm of Walmart-owned Flipkart issued 470,772 equity shares at Rs 69,013.7 per share on a rights issue basis to Flipkart Marketplace Private Limited in Singapore.
AMFI reshuffle: Mazagon Dock and Global Health among 18 stocks that may be upgraded in H2 CY25
AMFI's upcoming rejig for H2 CY25 could see 18 stocks upgraded to large-cap and mid-cap segments, including Mazagon Dock and Global Health. Ten stocks may move from small-cap to mid-cap, such as Laurus Labs and Global Health. However, some stocks, including RVNL and Dabur, could be downgraded. The recategorization will be effective from August 1, 2025.
PSU bank stocks sink up to 12%; Central Bank of India, Punjab & Sind Bank, IOB lead losses
Central Bank of India’s stock dropped nearly 12% today, marking its third consecutive day of losses, after already falling over 6% in the last two trading sessions. Similarly, Punjab & Sind Bank, which had plunged 20% in the previous session, fell another 8.3% on Wednesday.
Tata Consumer Products shares surge 8% on Goldman Sachs upgrade, target hiked to Rs 1,200
Tata Consumer Products shares: Tata Consumer Products shares rose 8% to Rs 1,073.15 on the NSE after Goldman Sachs upgraded the stock to a 'Buy' rating, increasing its target price to Rs 1,200. This follows expectations of strong EPS growth from a recovery in tea margins and distribution expansion. The stock has surged 41% over the past two years.
Coming soon: Karnataka plans 5% fee on online platforms Amazon, Flipkart, Ola, Uber to fund gig worker welfare
At a meeting in Delhi on Thursday, Congress leader Rahul Gandhi asked state chief minister Siddaramaiah to go ahead with the law. The state government will now set up a gig workers’ welfare board to plan and implement schemes for their benefit.
Swiggy Instamart to begin delivering smartphones in 10 major cities
This is in line with quick commerce platforms expanding their offerings by introducing products that were previously sold on ecommerce platforms. As of January, Swiggy operated 800 dark stores across 84 cities.
Bharat Electronics share price drops 6% after missing FY25 order inflow target
Bharat Electronics Ltd. (BEL) shares dropped 6% after order inflows for FY25 fell short of expectations, though the company's revenue saw a 16% increase, surpassing projections. BEL's current order book stands at Rs 71,650 crore, with strategies in place to bolster its global market presence.
Coal India shares in focus after announcing Rs 10 per tonne price hike for coking and non-coking coal
Coal India shares: However, Coal India's coal production in FY25 saw a slight growth of 1% compared to the previous year, according to a regulatory filing. The company also reported a 3.1% decline in production for March 2025, with output dropping to 85.8 million tonnes from 88.6 million tonnes in March 2024.
Tata Motors shares in focus after flat March 2025 sales
Tata Motors shares: For FY2024-25, Tata Motors reported a 4% decline in total sales, reaching 9,12,155 units, down from 9,49,015 units in FY24. Passenger vehicle sales decreased by 3%, totaling 5,56,263 units compared to 5,73,495 units in FY24, while commercial vehicle sales fell 5%, with 3,76,903 units sold, down from 3,95,845 units in FY24.
L&T Technology Services shares in focus after signing €50 million deal with European auto manufacturer
L&T Technology Services has secured a €50 million deal with a European automotive OEM to set up a new development centre focused on software-defined vehicles and advanced driver-assistance systems. This follows a recent $80 million deal with a US company.
AC makers expect clicks to be quick in harsh summer
Air conditioner and air cooler brands such as Daikin, Godrej, LG, and Lloyd are optimistic that the forecasted intense summer will boost sales in India's quick commerce market. Companies are collaborating with quick commerce platforms to retail their products, expecting higher sales of plug-and-play items like ACs and coolers this season.
18% GST instead of 5% to be charged on dining in a hotel if room rent per night is above this; know how much more it will cost?
GST: From April 1, 2025 restaurants inside hotels will have to charge 18% GST from customers instead of 5% previously if the said restaurant satisfied the definition of 'specified premises'. However, restaurants who do not satisfy this definition of specified premises have an option to either charge 18% GST or 5% from customers. Read below to know how customers will be impacted due to this high GST.
'70,000 gig workers registered on eShram'
Over 70,000 gig workers have registered with the eShram portal, benefiting from social security schemes, after the onboarding of ten major e-commerce platforms like Uber, Zomato, and Blinkit. The Parliamentary Standing Committee on Labour recommends expediting the onboarding of more aggregators to enhance social security coverage for gig workers.
FY26's hottest investment theme? SAMCO Mutual Fund CEO Viraj Gandhi says consumption is a must-watch
In FY25, 58 equity mutual funds delivered double-digit returns, while 242 out of 268 posted gains. However, 26 funds recorded negative returns, eroding investors’ wealth on lump sum investments. This highlights the importance of fund selection in market fluctuations.
MF Tracker: Can this top performing smallcap fund keep winning streak alive?
Bandhan Small Cap Fund has delivered impressive returns, outperforming its benchmark and category averages over multiple periods. Fund manager changes and strategic sector allocation contributed to its success. Caution is advised due to market volatility, and a staggered investment approach is recommended.
Indian consumer's dash from e to q: How far can it go?
India’s quick-commerce sector is growing rapidly, outpacing traditional e-commerce with its promise of less than 30-minute deliveries. Major players like Amazon and Flipkart have entered the market, expanding offerings beyond groceries to electronics and apparel. This growth is driving significant employment opportunities.
Blinkit to now deliver ACs in 10 minutes
Quick commerce platforms are anticipating a surge in demand amid predicted heat waves this year. ET reported in February that rapid delivery platforms are prepping for early summer and ramping up their operations for summer-oriented products such as ice-creams, cold drinks, and even air-conditioners and coolers.
Zomato shares drop 5% after BofA downgrades stock to ‘neutral,’ cuts target price to Rs 250.
Zomato shares dropped 5% to Rs 199.90 on the BSE after BofA Securities downgraded the stock to "neutral" and cut its price target to Rs 250, citing profitability concerns in quick commerce and food delivery. BofA expects Zomato’s EBITDA for FY26 and FY27 to be 20-50% below street estimates, raising concerns about its financial outlook.
India tech startups worth $100 billion seen seeking IPOs by 2027
Walmart Inc.-controlled online retailer Flipkart, payments firm PhonePe and lodging provider Oyo Hotels are among the companies seeking to list in the country, which was the world’s second-largest market for share sales last year but has lost steam since.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 26%
Remember this lesson from history: When the market begins recovering after a corrective phase, as is happening these days, it is led by stocks of good businesses with managements that have dealt with all kinds of adversity. So, focus on the business you are buying. Because, what happened in the last six months will be repeated. Another thing to be taken into consideration: FPI selling has slowed; in fact, they have been net buyers on some days. But given that we may see higher volatility in the global market due to the unwinding of AI trade, it might be better to be cautious. Again, some of the decline could be due to some of the large IT stocks which might skew the movement of the indices.
From New income tax slabs to UPS: 8 key financial changes from April 1, 2025
Starting April 1, 2025, new rules will change income tax slabs, increase TDS thresholds, and implement the Unified Pension Scheme (UPS). Changes also include maintaining small savings scheme rates, modifications to credit card benefits, and ending the Mahila Samman Savings Certificate program.
A man's fun banter quickly turned serious. Swiggy Instamart's actions leave everyone in disbelief
Swiggy Instamart surprised a user by delivering a month's worth of ration after he jokingly requested it on X. The supplies included instant noodles, bread, chips, makhana, and Rooh Afza. The user shared his delight on X with a photo of his stocked fridge. The gesture was appreciated by many and sparked a range of reactions online.
2 top stock recommendations from Aditya Agarwala
The next leg of rally in the banking could come from the PSU lot and SBI, Bank of India, PNB, Canara Bank, all these could be your normal suspects who could lead the rally in the Bank Nifty as well and from here on, Bank Nifty can actually see a good 4% to 5% outperformance in the April expiry if we talk about.
Meesho's order spike; Zomato takes a dip
Meesho's order volumes increased in the nine months ending December 2024, per its annual report. This and more in today's ETtech Top 5.
SBI Card revises reward benefits: Major changes effective from April 1, 2025, on these cards; check details
These changes will impact some popular credit cards, such as Club Vistara SBI Credit Cards, Club Vistara SBI PRIME Credit Cards, SimplyCLICK SBI Card, Air India SBI Platinum Credit Card, and Air India SBI Signature Credit Card
ETtech in-depth: Ride-hailing on a rollercoaster ride with sharp twists, turns
India's ride-hailing market has seen major changes in the last 12-15 months, with Rapido gaining a 20% share, while BluSmart and Ola lose ground. Uber retains a 50% share, and the government's entry with Sahkar Taxi introduces new competition.
Nifty indices rejig: Zomato, Jio Financial to see $822 million inflows as BPCL, Britannia exit
The reshuffle, coinciding with Nifty's derivatives expiry, will result in Bharat Petroleum Corp Ltd (BPCL) and Britannia Industries Ltd exiting the index, causing significant outflows, while Grasim Industries and Bajaj Finance will undergo weightage adjustments.
$394 mn inflows eyed as IHCL, Swiggy, 5 more join Nifty Next 50 in March rejig
In terms of inclusion, Indian Hotels is expected to witness the largest inflow at $108 million, followed by Britannia with $85 million, BPCL at $80 million, and CG Power at $60 million.
Mother Dairy to Amul: Brands rush to quick commerce ahead of summer heatwave
Consumer goods companies like Mother Dairy, Coca-Cola, and Dabur are launching numerous new products on quick-commerce platforms to meet predicted demand during extreme heatwaves this summer. Platforms such as Blinkit, Zepto, and Swiggy Instamart are being used for their rapid delivery services, helping companies capitalize on increased demand for summer-focused products and new product discoverability.
ONDC retail order numbers decline as financial incentives fade
ONDC initially provided financial incentives to onboard sellers, drive transactions, and fund customer discounts and offers. However, it has been gradually reducing this assistance over the past few months, with the monthly incentive cap dropping from Rs 3 crore in July to around Rs 30 lakh now.
Nifty indices rejig: Zomato, Jio Fin to see inflows up to $591 mn; Britannia, BPCL face outflows up to $300 mn on exit
Zomato is expected to experience the largest cumulative inflow of $391 million, while Jio Financial is anticipated to draw $200 million in passive investment. The reshuffle, aligning with Nifty's monthly derivatives expiry, is likely to boost trading volumes as index-tracking funds adjust their portfolios.
Waaree Renewable shares in focus on securing Rs 232 cr solar EPC contract
Waaree RTL confirmed that it has been awarded a contract by Waaree Energies Limited, its promoter group entity. The project involves Engineering, Procurement, and Construction (EPC) work for a Ground Mount Solar Power Project with a total capacity of 170 MW AC / 255 MW DC, including Operation and Maintenance (O&M) on a turnkey basis.
Cut retail pie in large IPOs: Investment banks to Sebi
Companies such as Tata Capital, LG Electronics India, HDB Financials, ICICI Prudential AMC, Lenskart, Manipal Hospital, PhonePe, among others, are planning IPOs of size of over $1 billion.
Zepto’s super-saver discounts boost basket sizes, yet squeeze profit margins
Quick commerce companies are expanding into planned grocery purchases, traditionally dominated by BigBasket, to target household bulk buying. However, an HSBC report warns that this strategy impacts profitability, as programs like Zepto’s Super-Saver offer discounts but require high minimum order values, reducing EBITDA margins.
Wipro shares rise 2% on £500 mn strategic deal with UK insurance giant Phoenix Group
Wipro share price: Wipro shares rose 2.3% after the company signed a £500 million strategic deal with Phoenix Group to provide life and pension business administration for ReAssure. The 10-year partnership aims to support Phoenix Group’s operational transformation, with Wipro offering end-to-end services through its regulated entity WFOSL.
Zypp Electric lays off 10% of workforce amid profitability push
Its employee strength has now come down from 1,300 to around 1,180-1,190, said a company statement. The statement termed the exercise as “rationalisation to keep driving efficiencies, to drive sustainable growth, and profitable growth”.
Swiggy takes on Zomato’s Hyperpure with B2B kitchen supplies platform Assure
According to the app description, Assure claims to offer "locally sourced, high-quality, and fresh ingredients" and says it adheres to hygiene standards from sourcing to delivery. Assure is a "comprehensive solution for all kitchen needs," it added.
Indira IVF Hospital scraps IPO plans; withdraws draft papers
Fertility clinic chain Indira IVF Hospital has withdrawn its draft IPO papers, which were filed through the confidential route, an update with markets regulator Sebi showed on Tuesday.
Banking on Financials: Why Chakri Lokapriya is betting on PSU Banks & NBFCs
Chakri Lokapriya discusses the recovery of the financial market, highlighting the strategic moves in banking and power sectors. He mentions the impact of tariff noise, buying trends in PSU banks and NBFCs, and suggests top investment ideas like Power Finance and REC. He also covers real estate, cement industry growth, and the retail sector's potential revival.
Zepto in talks for $250 million secondary sale ahead of IPO
Zepto is in talks to sell up to $250 million in shares, aiming to increase Indian ownership ahead of a potential IPO. This secondary sale, involving private equity firms Motilal Oswal and Edelweiss, will help boost Indian investor stakes from 33% to around 50%. The move highlights Zepto’s strategy to strengthen its position before going public.
IT, banks to lead next phase of market rally: Religare’s Ravi Singh
The IT and banking sectors are poised to drive the next market rally, supported by strong Q3 earnings, favorable valuations, and policy tailwinds. Experts highlight global interest rate trends, inflation management, and sectoral resilience as key investment considerations.
Rise of small brands in India: Just downtrading or something more?
In India's FMCG market, small and regional brands are growing faster than large companies due to downtrading and consumers' willingness to experiment with cheaper options. Digital channels and increased online shopping are also supporting this shift, impacting major players like HUL and Nestle.
Gig workers to be covered under Ayushman Bharat, preparations for scheme rollout almost complete: Labour Secretary
Gig workers and their families in India will be eligible for health coverage under Ayushman Bharat with a coverage limit of Rs 5 lakh. The government plans to complete the registration of online platform workers on the e-Shram portal, providing them with identity cards and healthcare benefits. The gig economy workforce is projected to grow significantly by 2029-30.
Swiggy shares on Rs 60,000 crore crash diet. Will investors get a cheat meal soon?
Swiggy's shares have plunged 43% from their peak, amid rising cash burns and fierce competition in the quick commerce segment, along with a slowdown in its core food delivery business. The path to profitability remains unclear, but some analysts see a buying opportunity due to potential long-term growth in both food delivery and quick commerce.
Grocery delivery startup Apna Mart raises $25 million in equity-debt mix from Fundamentum, Accel, others
Apna Mart, a grocery delivery startup operating in tier-II and tier-III cities, raised $25 million in a mix of equity and debt funding from Nandan Nilekani's Fundamentum, Accel, Peak XV Partners, and Sparrow Capital. The funds will support corporate activities as the company expands amid rising competition in ultra-fast delivery services.
India vs X; Smallcase's funding boost
The Indian government will fight allegations by Elon Musk's X about content regulation and censorship. This and more in today’s ETtech Top 5.
Don't break the gig beat: India’s platform economy offers lucrative opportunities but needs balanced regulation to thrive
The gig economy in India offers substantial opportunities, providing flexible employment to millions and competitive earnings for gig workers. With projected expansion, it is essential for regulation to support social security benefits without stifling innovation, ensuring inclusive and sustainable growth.
PhysicsWallah files draft IPO papers with Sebi via confidential route
Edtech unicorn PhysicsWallah has filed draft IPO papers with capital markets regulator Sebi through a confidential pre-filing route. The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP).
Swiggy Instamart expands presence in 100 cities in India
With this expansion, millions of new customers now have access to over 30,000 products, from groceries and daily essentials to electronics, smartphones, fashion, makeup, toys, and more, all delivered in 10 minutes, Swiggy Instamart said in a statement.
Post correction, Zomato, Swiggy, PB Fintech, Paytm are worth nibbling into: Pashupati Advani
Pashupati Advani highlights the potential in new-age tech stocks such as Zomato, Swiggy, and Paytm after recent corrections. He also suggests considering traditional industries like infrastructure, steel, and cement supported by government spending. Defence companies are recommended due to global tensions. He advises caution with IT stocks due to uncertainties in US policies and AI advancements.
Global cos eye majority in Madison's ad business
Publicis Groupe and Havas Network are both in discussions with Madison World, founded by Sam Balsara, to acquire a majority stake in its advertising business. This move comes as Madison looks to align with global networks for future growth. Interest from the French groups could be influenced by Omnicom Group's acquisition of Interpublic Group.
QSR brands riding on qcomm wave with customised offerings
QSR brands like Wow Momo, Chaayos, and Blue Tokai are launching customised products on quick commerce platforms such as Blinkit, Zepto, and Swiggy Instamart to capture growing demand. Quick commerce is becoming a major sales channel, with companies seeing rapid growth. India’s quick commerce market is projected to reach $75 billion by 2032.
Surge in demand for temporary workers this Summer: key sectors and trends
Seasonal hiring is set to reach new heights this summer in sectors such as quick commerce, e-commerce, consumer durables, hospitality, and retail. Companies are offering competitive incentives to attract talent in response to high demand and attrition. Over 100,000 temporary and gig roles are anticipated for summer-specific needs.
Big changes for these SBI credit cardholders: Major reward point cuts announced
SBI cardholders: Certain categories will now earn fewer rewards points than before, such as online spending on Swiggy and purchases of Air India tickets. Here's a detailed breakdown of the modifications.
Stocks to buy: Swiggy, RVNL and TVS Motor on investors' radar
Benchmark BSE Sensex bounced back with a 341-point gain, ending a five-day losing streak due to strong performance in banking stocks and a global rally. Stocks like HAL, BEL, and KPIT Tech showed significant movements, with HAL and KPIT Tech rebounding, while BEL experienced slight fluctuations.
Leave something on the table! Greedy promoter trying to sell at top price during IPO won’t work any more: Mohit Gulati
Mohit Gulati, Managing Partner & CIO at ITI Growth Opportunities Fund, anticipates robust IPO market growth despite valuation corrections. Although corporate greed and high valuations have marked recent years, a more realistic pricing approach is expected. Quality papers and tech-related IPOs, particularly in fintech, are likely to dominate, requiring better corporate governance and market communication.
Zepto to deliver Apple products, emulating quick commerce rivals Instamart, Blinkit and BigBasket
Palicha said in a post on X, "In the last 60 days, we had over a million searches from customers for Apple device products on Zepto. We listened! Today, I’m excited to announce the formal launch of Apple products on Zepto. Kudos to Zepto’s exceptional electronics team for pulling this off."
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.
Uber India logs 41% rise in operating revenue at Rs 3,762 crore; loss narrows 71%
Improvement in ride-hailing services and growth in support and service operations helped slash losses from Rs 311 crore to Rs 89 crore. Over the past five to six years, Uber has focused heavily on the mobility segment. In FY24, its ride-hailing revenue in India rose by 19% to Rs 806 crore, up from Rs 678 crore last year.
