SWIGGY STOCK
F&O Talk| Nifty stages pullback but lacks conviction; trend hinges on banking, IT revival: Sudeep Shah
Indian equity benchmarks closed the week positively due to strong economic data and policy reforms. Sudeep Shah of SBI Securities discussed the outlook for Nifty and Bank Nifty. Nifty faces resistance at 24950-25000 and support at 24550-24500. Bank Nifty is underperforming, with resistance at 54500-54600 and support at 53600-53500.
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.
Metals, hospitality in focus as GST cuts reshape market themes, cautious on NBFCs: Ashish Chaturmohta
The recent GST rate cuts have sparked a rally across consumption-linked sectors, with NBFCs, metals, hospitality and cement stocks emerging as key talking points for investors.
Why we order food online despite a fridge full of groceries? It is not just laziness: The hidden psychology behind our choices
Despite refrigerators full of fresh groceries, many Indians turn to Swiggy or Zomato by midweek. A VegOut report reveals this paradox stems less from laziness and more from psychology—planning fallacy, decision fatigue, perfectionism, and emotional eating. Groceries reflect aspirations of a healthier self, but fatigue, stress, and comfort cravings shift choices toward takeout. The report highlights how food delivery thrives on the gap between intentions and daily realities.
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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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.
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.
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.
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 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.
Elevation Capital raises $400 million late-stage fund to back IPO-bound startups
Elevation Capital, known for early-stage investments in companies like Paytm and Swiggy, is launching a $400 million late-stage fund, Elevation Holdings. This new vehicle will target long-term investments in 10-15 companies nearing public markets, focusing on consumer and financial services with a technology emphasis.
ETSA 2025 jury meet; and other top tech and startup stories his week
Welcome to a new edition of ETtech Unwrapped — our weekend newsletter packed with the most important stories from this week. Let’s take a look at the recap.
Festive fireworks ahead for ecommerce firms with season sales to rise 27%
Indian e-commerce marketplaces and online retailers anticipate a record-breaking festive season, projecting sales of Rs 1.2 lakh crore, a 27% increase from last year. Quick commerce is set to account for over Rs 14,000 crore of this estimate. This resurgence comes on the back of consumer sentiment in urban India turning positive after three years of slower growth.
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
ET Startup Awards 2025: Nominees for Startup of the Year
The ET Startup of the Year will be characterised by breakthrough innovation, top-class execution and fast-paced growth. The quality of the founding and management team was an important component in decision making.
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.
IndiGo, Max Healthcare set to enter Nifty 50 in index rejig. Check full list
NSE Indices announced a reshuffle of its benchmark indices, with IndiGo and Max Healthcare Institute joining the Nifty index, replacing Hero MotoCorp and IndusInd Bank. These changes, effective September 30, reflect the companies' free-float market capitalization. Several other indices, including Nifty 100 and Nifty Next 50, also experienced additions and exits as part of the semi-annual review.
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.
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