India’s sweeping labour code overhaul, effective November 21, has unleashed a fresh cost burden on the country’s booming food delivery and quick commerce giants Swiggy and Eternal, threatening to shave up to 70 basis points off margins and trigger volatile stock swings as investors grapple with the sector’s first major regulatory reset. The Ministry of … Read more
Food delivery and quick-commerce platform Eternal said in a statement on Saturday that the financial impact of the new social security code, which took effect on Friday, will not hurt the company’s long-term prospects. The Deepinder Goyal-founded firm added that the exact financial and operational implications will be known only once the rules are formally … Read more
Global brokerage firm Bernstein has initiated coverage on India’s leading e-commerce platforms, Eternal and Swiggy, assigning an ‘Outperform’ rating to both, with target prices of Rs 390 and Rs 570, respectively. The firm believes that both players are well-positioned to tap into the fast-evolving digital consumption landscape, particularly within the food delivery (FD) and quick … Read more
Shares of food delivery firm Eternal slid 4.2% to their day’s low of Rs 333.75 on the BSE on Friday, October 17, after the company reported a sharp 63% year-on-year (YoY) decline in its consolidated net profit for the September quarter. The net profit stood at Rs 65 crore in Q2 FY26, down from Rs … Read more
Mid-tier IT services company LTIMindtree on Thursday reported a 12% YoY growth in its consolidated Q2 net profit at Rs 1,401 crore versus Rs 1,251 crore in the year-ago period. The profit after tax (PAT) is attributable to the company’s shareholders. The company’s revenue from operations in the quarter under review stood at Rs 10,394 … Read more
Indian online delivery firms Eternal and Swiggy could see profit margins improve slightly in the second quarter, analysts said, after at least a year of accelerating losses in their quick commerce arms due to higher costs. Eternal’s Blinkit, Swiggy’s Instamart and start-up Zepto have emerged as the top players in India’s booming quick commerce industry, … Read more
The Indian market advanced on Friday, supported by gains in financial heavyweights amid renewed foreign portfolio investor (FPI) inflows over the past three sessions. Optimism ahead of the quarterly earnings season added to the upbeat sentiment, although Tata Consultancy Services (TCS) capped broader gains after reporting weaker-than-expected September-quarter results. The S&P BSE Sensex rose 328.72 … Read more
Amid improving profitability and strong revenue growth, a clutch of India’s internet-focused stocks have shed the tag of being just great business models without earnings. An analysis of the Nifty India Internet index shows eight stocks delivering double-digit returns of up to 80% when India’s headline index Nifty has slipped 1.4%. Leading the rally is … Read more
After a volatile start to the week, the Nifty index has shown signs of recovery, trading flat at 24,840 on Friday. Market experts point to technical cues suggesting a possible upward momentum in the near term. CA Rudramurthy BV, a seasoned market analyst, highlighted the shift in market patterns over recent sessions. “Last week on … Read more
Eternal (formerly known as Zomato) has become the top pick in the mutual fund portfolios in August, receiving the highest investment of Rs 7,200 crore, beating down some big names such as Infosys, Paytm, HDFC Bank, ICICI Bank, and others, according to a report by Nuvama Institutional Equities. The report further highlights that the stock … Read more