SWIGGY SHARE PRICE
Rs 15,000 crore in vain? LG Electronics IPO has investors worried about a Korean red flag
LG Electronics is set to launch a Rs 15,000 crore IPO in October through an offer-for-sale, sending proceeds to its Korean parent. While the company leads India’s appliance market, investors remain cautious about short-term gains, recalling Hyundai India’s disappointing debut despite long-term growth prospects.
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.
Apollo Micro Systems shares slide 9% on profit booking
Apollo Micro Systems shares fell sharply on Monday amid profit booking after a strong rally of 62% in the past month and 175% over the last year. The stock remains technically bullish, trading above most key SMAs, with an RSI signalling short-term overbought conditions.
Swiggy gets another buy call, this time from Nomura, with Rs 550 target price
Swiggy's stock receives a 'buy' rating from Nomura, setting a target price of Rs 550, citing disciplined execution and improved breakeven visibility. Ongoing product innovations like Bolt are helping Swiggy gain market share against Zomato. Motilal Oswal also upgraded Swiggy to 'BUY', anticipating multiple tailwinds and raising food delivery growth estimates for FY26-27.
Girish Mathrubootham exits Freshworks: A timeline of the SaaS major’s 15-year journey
The vision of the founder of the company is summed up in one of his posts: “I wanted us to think and act like a global company even if we were still a team of 10.” Per its website, the provider of enterprise-grade, AI-assisted service software has served more than 73,000 customers in over 120 countries.
Ola Electric auditor raises alarm; Urban Company's pre-IPO deal
Ola Electric's auditor draws attention to missing internal controls at a key subsidiary. This and more in today's ETtech Top 5.
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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.
Urban Company IPO payday; Side effects of CBD wellness rush
Happy Thursday! Urban Company investors look at lucrative returns as the unicorn gets ready to list. This and more in today’s ETtech Morning Dispatch.
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.
Urban Company IPO: Early backers stand to make up to 29 times their investment
Urban Company’s IPO, opening on 10 September, is set to give big returns to early investors. Accel will earn 29X, Elevation Capital 19X, and Bessemer 14X. The IPO values the firm at Rs 15,000 crore. Major investors and founders will sell shares worth hundreds of crores through the offer-for-sale route.
Shringar House of Mangalsutra IPO to open on September 10. Check price band and other details
Shringar House of Mangalsutra is set to launch its IPO on September 10, aiming to raise funds through a fresh issue of equity shares. Specializing in mangalsutras, the company holds a notable market share and intends to utilize the IPO proceeds for working capital and general corporate purposes.
GST uncertainty weighs on auto stocks; 10 counters to benefit from rate changes: Sunny Agrawal
Auto stocks slipped as investors await clarity on GST hike for luxury cars and EVs. Analysts say the impact hinges on whether the higher tax applies to vehicles above Rs 20 lakh or Rs 40 lakh, with M&M largely shielded if the latter prevails.
Eternal shares rise 2% as Zomato hikes platform fee to Rs 12 ahead of festive season
Zomato's parent company, Eternal, saw shares rise by 2% after increasing its platform fee to Rs 12, mirroring a similar move by competitor Swiggy ahead of the festive season's expected surge in demand. While Zomato's profits declined YoY, revenue increased. Swiggy's losses doubled due to investments in its Instamart vertical.
The Golden Thumb Rule| IPO Rush, AI Noise, and Timeless Principles: Ambit’s Nitin Bhasin on Navigating Markets
Nitin Bhasin of Ambit Capital stresses that despite IPO hype, AI buzz, and market sentiment swings, timeless principles—valuation discipline, behavioural control, and long-term focus—remain the true foundations of successful investing.
Societe Generale buys stake worth Rs 79 crore in RBL Bank via bulk deal
Societe Generale purchased over 31 lakh shares of RBL Bank in bulk deals. The transaction was valued at Rs 79 crore. RBL Bank's shares closed lower amid weak market sentiment. Nifty and Sensex also experienced declines. RBL Bank's recent financial results showed a decrease in net profit.
Sunil Singhania-led Abakkus buys equity worth Rs 64 crore in Edelweiss Financial via block deal
Abakkus Asset Manager, led by Sunil Singhania, bought 64.3 lakh shares of Edelweiss Financial Services worth Rs 64 crore in a block deal from Edelweiss Employees Welfare Trust and Edelweiss Employees Incentives and Welfare Trust
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.
Consumption theme based mutual funds offer up to 18% return in 6 months. Will GST reforms be a game-changer?
Consumption-themed mutual funds have shown strong returns, averaging 12.28% in the last six months, with some funds reaching 18%. Proposed GST rate cuts are expected to further boost demand across sectors like FMCG and consumer durables. However, experts advise a balanced approach, suggesting diversified equity funds may offer better long-term exposure compared to these narrow thematic plays.
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.
Swiggy shares jump over 5% in intra-day trade; what’s driving the rally?
Swiggy's shares jumped 5.5% following optimistic forecasts for its food delivery and quick commerce sectors. DAM Capital projects a 28% revenue CAGR and profitability by FY28, driven by Instamart's growth. Market share recovery and inclusion in the MSCI Global Standard Index further boosted investor confidence in Swiggy's potential.
Reliance Jio, NSE IPOs coming soon? Sebi clears roadblock for mega multi-billion dollar listings
India's IPO market may witness mega listings soon, as SEBI considers easing norms for large companies. Reliance Jio and NSE could benefit from reduced public offer requirements, potentially easing market absorption concerns. The proposed changes also extend timelines for meeting minimum public shareholding, addressing potential share oversupply.
Make telecom stocks part of core portfolio; digital commerce, insurance other favourites: Rajesh Bhatia
Rajesh Bhatia of ITI MF advocates for including telecom stocks in core portfolios, highlighting tariff increases and growing free cash flow. He also favours digital economy companies like PB Fintech and Zomato, citing their rapid growth and potential profitability. Bhatia expresses less optimism about oil and gas, preferring sectors with predictable growth.
Startup IPOs by default, not design
Over the last two-three years, India’s late-stage private tech funding landscape has changed radically as growth bets and larger cheques have mostly vanished. A $100 million funding round for mature startups has all but disappeared.
Heavy rains, flooding disrupt delivery businesses in Mumbai
Food delivery and quick commerce platforms had suspended operations for several hours in areas experiencing severe waterlogging. High-velocity winds and flooding have scared delivery partners, who are demanding an increase in the rain fee from Rs 20 to Rs 40.
Discounts galore at qcomm; VCs pick AI developers
Happy Tuesday! Quick commerce apps are turning up the discount dial this festive season in a bid to hold on to customers. This and more in today’s ETtech Morning Dispatch.
Rs 2.4 lakh crore GST boost! Jefferies, Morgan Stanley decode impact on stocks, economy
Prime Minister Narendra Modi’s Independence Day GST reform announcement is seen as a game-changer, with brokerages projecting a Rs 2.4 lakh crore demand boost and a 50–70 bps lift to GDP growth. Expected around Diwali, the reforms, coupled with earlier income tax cuts, are set to fuel discretionary spending, with auto and consumption stocks poised to benefit most.
Rs 3,100 crore mutual fund battle: Why MFs are ditching Zomato for Swiggy
Zomato Vs Swiggy: Mutual funds exhibited contrasting strategies in July, divesting approximately ₹1,700 crore worth of Eternal shares amidst a 17% surge, while simultaneously investing ₹1,400 crore in Swiggy, whose shares have declined 26% year-to-date.
Swiggy shares jump 3% after company hikes platform fees to Rs 14
Swiggy's shares experienced a surge on Monday following an increase in its platform fee to Rs 14 in high-demand areas, aiming to mitigate widening losses. Despite a doubled net loss of Rs 1,197 crore in Q2, operating revenue rose 54% to Rs 4,961 crore. Intensifying competition from new entrants like Rapido's Ownly, offering lower commission rates, adds pressure.
Ahead of Market: 10 things that will decide stock market action on Monday
The Indian market was closed for a national holiday on Friday. On Thursday, the Sensex and Nifty closed higher, breaking a six-week losing run driven by trade tensions and muted quarterly earnings, with gains in Infosys after it agreed to buy a stake in Australia’s Versent Group.
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