SWIGGY SHARES

Zomato, Swiggy's GST woes; Amazon's $200-million Axio deal

With the overhaul of India's GST regime, food delivery companies Zomato and Swiggy stare at a new tax burden. This and more in today's ETtech Top 5.

GST overhaul lifts new-age stocks PB Fintech, Nykaa, FirstCry

The new regime has abolished tax on individual life and health insurance products sold by companies such as LIC, SBI Life Insurance and ICICI Prudential Life Insurance. This move is likely to boost premiums and customer adoption of such products.

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.

Venturi Partners announces first close of second fund at $150 million

Venturi Partners has announced the first close of its second fund at $150 million, aiming for a total of $225 million within 12 months. The Singapore-based firm will invest in high-growth consumer companies across India and Southeast Asia, focusing on category creators, disrupters, and unorganised-to-organised-market transitions in Series B-D stages.

Golden Crossovers: Swiggy among 6 stocks signalling further bullishness on Sept 4

Stocks in news: Jio Financial, Swiggy, Aptus Value Housing, Coal India, Maruti Suzuki

Indian markets surged, fueled by GST Council optimism. Key highlights include BHEL securing a ₹2,600 crore order and Swiggy raising platform fees in high-demand areas. Aptus Value Housing faces a potential share sale by WestBridge Capital, while Maruti Suzuki unveils its new Victoris SUV. Coal India is venturing into renewable energy with significant solar and wind power plant tenders.

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.

Swiggy hikes platform fee to Rs 15 in third revision in three weeks

This comes in the background of strong festive season demand and widening losses in the April-June quarter. The restaurant aggregator had raised its platform fee to Rs 14 per order from Rs 12 during Independence Day, which was later rolled back. Per the Swiggy app, the platform fee is inclusive of GST.

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.

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.

Milind Karmarkar on Trent stock: A 10x growth story in the making

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.

From Madgaon to Jodhpur, Swiggy expands food on train to 115+ stations, unlocks 'order for others' trend this festive season

Swiggy's Food on Train service is now available at over 115 stations. This covers 28 states and union territories. A trend of ordering food for loved ones on trains is emerging. Passengers can order from 6 am to 11 pm. The service includes new stations and regional delicacies. Ordering is simple via the Swiggy app using the PNR number.

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.

Rapido, not Ola, is Uber’s biggest rival in India: CEO Dara Khosrowshahi

Uber CEO Dara Khosrowshahi said Rapido has overtaken Ola as Uber’s main rival in India. Speaking on Nikhil Kamath’s podcast, he called Rapido the “tougher competition.” Rapido now holds a growing share of India’s ride-hailing market and has expanded into food delivery, though rising cash burn has impacted profitability.

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.

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.