Shares of Zomato (Eternal) and Swiggy rose up to 3.3% on Friday after both companies removed the rain surcharge waiver from their membership programs. This means that even paying subscribers of Swiggy One and Zomato Gold will now have to bear an additional ‘rain fee’ during inclement weather. The surcharge, which ranges between Rs 15 … Read more
Tube Investments of India is exhibiting a strong bearish trend, characterized by lower highs and lower lows. Bearish candles have formed over the past three sessions, indicating persistent selling pressure. The MACD remains negative, signaling weak momentum, while the RSI near 32 suggests oversold conditions without signs of recovery. The stock’s decline below key EMAs … Read more
Shareholder lock-ins worth $867 million in 10 companies will be lifted between December 9 and 13, according to a report by IIFL Alternate Research. While this value pertains to the total lock-in opening shares, it is important to note that not all of these shares will be available for sale, as a sizable portion is … Read more
Citing Swiggy’s solid brand presence and user base, brokerage HDFC Securities has initiated coverage on the Dalal Street debutant with an Add rating and a stock target price of Rs 430. The brokerage highlights the company’s strong growth prospects in quick commerce but notes operational hurdles could impact its long-term profitability trajectory. The target price … Read more
Big investors including Norway’s sovereign wealth fund Norges and Fidelity have placed bids worth more than $15 billion in Swiggy‘s India IPO, 25 times the $605 million portion reserved for such investors, four sources told Reuters on Thursday. Swiggy, a SoftBank-backed Indian food and grocery delivery giant, will next week launch its $1.35 billion IPO … Read more