BLINKIT
Blinkit can break-even in Q4, says Nomura; raises Eternal target price
Nomura raised Eternal’s target price to Rs 370, projecting a 12% rally driven by Blinkit’s shift to an inventory-led model, store expansion, and expected breakeven by FY26. Food delivery remains the cash engine with strong growth prospects, while competition poses near-term risks.
Order now! With Zomato & Swiggy soaring, which stock should be in your portfolio?
Zomato and Swiggy have experienced significant growth, fueled by strong order volumes and improved quick commerce prospects. While GST rule changes initially caused concern, analysts believe the impact will be minimal as both companies adapt through platform fee adjustments.
Kiranas, distributors turn lean as countdown to September 22 begins
Neighborhood grocers and quick commerce platforms are limiting supplies from companies. They want to avoid unsold stock before the new GST rules. Companies are shortening supply cycles to stores. Prices of large packs will decrease after GST 2.0. Smaller packs will offer more quantity. Traditional traders lack the capacity for discounts.
Quick commerce to hike festive workforce by up to 60%
Quick-commerce firms in India plan to increase temporary staff by up to 60% for the festive season. Redseer estimates quick commerce deliveries will double to 10% of total e-commerce. Flipkart, Amazon, Blinkit, Swiggy Instamart, and Zepto are preparing for Diwali. Around 80,000 to 100,000 workers will be hired. Tier 2 cities are also ramping up fast.
Swiggy Instamart to launch Quick India Movement festive sale on September 19
Swiggy Instamart's 'Quick India Movement' sale, offering 50-90% discounts on over 50,000 products, will run from September 19-28, preceding Amazon and Flipkart's festive sales. The sale includes electronics, beauty, and more, featuring brands like Apple, OnePlus, and L'Oréal.
Motilal Oswal upgrades Swiggy to ‘buy’ rating, sees 32% upside potential. Should you invest?
Motilal Oswal projects stronger growth for food delivery and quick commerce, upgrading Swiggy to ‘buy’ with a Rs 560 target and maintaining Eternal at Rs 420. Easing competition, GST reforms, and festive demand are expected to drive profitability, boosting investor confidence in the sector.
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Move over, Tabasco! Indian chillies are turning up the heat on global hot sauce brands
Despite being one of the largest producers of chilli, India never indulged in taking over the global hot sauce market until some home-grown players like Naagin and Kaatil decided to leverage the country’s ‘spicy’ reputation.
GST reforms set to boost FMCG, auto, insurance and hospitality sectors: Saurabh Mukherjea
India's Goods and Services Tax reforms are set to stimulate consumption and vital economic sectors. Saurabh Mukherjea highlights potential benefits for Fast-Moving Consumer Goods and the auto industry. He favors large-cap quality stocks. Insurance and business-focused hospitality also present opportunities. However, personal credit growth may face challenges due to job cuts. Mukherjea welcomes the reduced GST on popcorn.
Zomato, Swiggy, Blinkit delivery fees to face 18% GST. What it means for investors
India’s food delivery and quick commerce firms face higher costs after the GST Council brought delivery fees under Section 9(5) of the CGST Act, making them liable for 18% GST. Analysts estimate this could raise costs by Rs 2 per Zomato order and Rs 2.6 for Swiggy, pressuring margins as the sector remains a key driver of India’s digital economy.
Former Flipkart exec’s quick comm startup FirstClub raises $23 million; valuation jumps to $120 million
The company plans to deploy the funds towards opening new dark stores in Bengaluru, rolling out formats like cafes and daily subscriptions, expanding into new categories, hiring talent, and investing in brand building.
GST Council slashes tax on personal-care items like shampoo, toothpaste, hair oil to 5%
The GST Council has agreed to reduce the tax rate on essential personal care items like hair oil, toothpaste, and shampoo from 18% to 5%, benefiting consumers and companies like Hindustan Unilever and Godrej Industries. This move, part of the broader GST 2.
Hotel Rooms to Casinos: GST on key services in spotlight ahead of council meet
Team GST is convening to address service tax classifications within the 12%, 18%, and 28% slabs, aiming to simplify the regime and potentially shift items to the 5% slab. However, the timing coincides with the festive season, creating uncertainty for consumer firms and retailers as buyers delay purchases awaiting rate cuts.
Festive season: Quick commerce to ramp up temp workforce by 40–60%
Quick-commerce platforms are gearing up for a significant surge in demand this festive season, projecting a 40-60% increase in temporary workforce. This expansion aims to manage the expected doubling of quick commerce deliveries, potentially reaching 10% of the total e-commerce market.
Change of Cart: Tata plans CEO change at BigBasket
BigBasket CEO Hari Menon has been charting a succession plan over the past few months, people in the know tell us. Going forward, he may take on a mentor role at the online grocer he cofounded, as his five-year tenure nears completion.
BigBasket top brass churn; RMG ban pain manifests
Happy Tuesday! BigBasket CEO Hari Menon is expected to take a step back as part of a leadership transition. This and more in today's ETtech Morning Dispatch.
BigBasket founders plan to step back; CEO Hari Menon prepares succession amid Tata Group’s quick commerce push
BigBasket founders, including CEO Hari Menon, are preparing to transition into mentoring roles as Tata Group seeks a new leader to sharpen its competitive edge in the quick commerce market. With Menon's tenure nearing completion, the company is actively shortlisting candidates to drive growth and reassure investors amid increasing competition from Blinkit, Instamart and Zepto.
Festive sales hit by GST uncertainty: Retailers, automakers brace for surge
Consumer firms and retailers face uncertainty due to delayed GST rate revisions coinciding with the festive season and Shraddh period, impacting purchase decisions. Auto companies urge the government to expedite notification of revised rates to avoid stalled sales before Navratri. Companies are preparing for a potential demand surge by adjusting supply chains and inventory management.
Not just groceries: Blinkit, Zepto & others turn festive bazaars on your phone
Quick commerce platforms in India, including BigBasket, Zepto, and Swiggy Instamart, experienced a surge in sales during Raksha Bandhan and other festivals. These platforms, initially focused on grocery delivery, are expanding into electronics, apparel, and home furnishings, driven by changing consumer shopping patterns.
Zomato parent Eternal gets GST demands, penalty orders amounting to over Rs 40 crore
Eternal, owner of Zomato and Blinkit, has received three GST orders from Bengaluru authorities, demanding over Rs 40 crore for July 2017–March 2020. The amount includes tax, interest, and penalty. Eternal plans to appeal, stating confidence in its legal position, supported by legal counsel.
Kitchenware brand Cumin Co raises $1.5 million in round led by Fireside Ventures
Huddle Ventures also participated in the round. The funds will be used to scale enamel-based manufacturing in India and strengthen its supply chain.
Crypto futures overtake spot deal; Eternal's tax woes
Indian crypto traders are shifting to futures trading for higher leverage and tax benefits. This and more in today’s ETtech Top 5.
Amid shift to inventory model, Blinkit offers sellers waiver on fee for recall of unsold goods
This comes at a time when Blinkit is transitioning to an inventory-led model from a marketplace model, following its parent Eternal becoming an Indian-owned and controlled company (IOCC) in April. Rival Zepto has also been increasing its domestic shareholding.
Indian digital advertising market to grow at 15% annually: Bain & Company report
Per the global management consulting firm, this growth between 2024 and 2029 will be driven by consumption growth, the emergence of new media avenues, and wider internet usage. The report said that, from spending the majority of their digital advertising budgets on Google and Meta, brands are now diversifying to news apps, OTT and ecommerce platforms, quick commerce apps, and gaming apps.
Uber not a holding company: CEO Dara Khosrowshahi on why he sold Zomato stake
Uber CEO Dara Khosrowshahi emphasized India's crucial role for Uber, ranking third in mobility trips with significant driver growth. He highlighted Ola's decline due to distractions, positioning Rapido as a key competitor with its subscription model, while Uber remains focused on its core mobility business and profitability in the Indian market.
ET Soonicorns Summit 2025: Meat isn’t built for 10-minute delivery, say Licious founders
At ET Soonicorns Summit 2025, Licious cofounders said quick commerce has reshaped demand but isn’t suited for perishable meat products. With 300 items and a two-day shelf life, Licious is using AI to scale 30-minute delivery sustainably. This comes amid rising competition in the quick commerce space.
Walmart International’s margins squeezed by Flipkart, Myntra quick commerce bets
Walmart International’s gross profit dipped in the June quarter due to rising investments in India’s quick commerce sector via Flipkart and Myntra. Kathryn McLay, CEO of Walmart International, said the company is ramping up its focus on rapid deliveries in India. This move comes as competition heats up with players like Blinkit, Swiggy Instamart, and Zepto.
Eternal shares in focus as parent sets up new subsidiary Blinkit Foods
Eternal, parent of Zomato and Blinkit, will launch a new subsidiary, Blinkit Foods, focusing on 10-minute food delivery under its Bistro brand. With 38 kitchens in Bengaluru and Delhi-NCR, early demand has been encouraging. The company aims to target home-style meals and quick snacks while refining its model for profitability. Shares closed 1.5% lower at Rs 321.65.
Blinkit offers parental controls, hides ‘sensitive items’ on app
Using a 6-digit PIN, parents can hide certain product categories, like sexual wellness and nicotine products, among others, from children. With this, Blinkit has become the first quick commerce app in India to introduce parental controls.
Quick commerce platforms go all-in on festive discounts
A fierce price war is erupting in the quick-commerce sector as platforms like Blinkit, Zepto, and Swiggy Instamart offer substantial discounts, up to 70% on select items, to attract customers during the festive season. Newer rivals such as Flipkart Minutes and JioMart are also aggressively participating, leading to increased competition and higher discounts on daily essentials and festive-specific products.
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