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
Domestic brokerage Nuvama Institutional Equities has initiated coverage on food delivery and quick commerce major Swiggy with a ‘Buy’ rating and a target price of Rs 510, driven primarily by Swiggy’s scale and profitability in the Food Delivery business, which now outpaces Zomato’s growth, alongside early signs of improvement in its Quick Commerce (Q-com) vertical. … Read more
Veteran investor Shankar Sharma has weighed in on the debate surrounding Lenskart’s upcoming initial public offering, stating that the eyewear retailer’s valuation is under unfair scrutiny. In a post on X (formerly Twitter), he remarked: “I have never bought any specs (I don’t wear specs) ever, but one thing is crystal clear from my lens: … 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
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
“Over the past 3–4 quarters, we saw increasing losses in quick commerce due to pricing wars, heightened competitive intensity, and marketing investments. So, it’s evident that the worst is behind us in terms of profitability and losses. From a medium- to long-term perspective, we expect the breakeven point to return for Blinkit — something we … Read more
“Having said that, both players are in a very aggressive capex mode to improve and increase their dark stores, in fact, double their dark stores over the next four quarters and therefore the kind of expectations that one really has from an earnings perspective and from a cash flow perspective, they are definitely going to … Read more
Shares of food delivery and quick commerce platform Swiggy have jumped nearly 5% over the past two trading sessions to Rs 347, following Morgan Stanley’s initiation of coverage with an ‘Overweight’ rating. The global brokerage has set a price target of Rs 405, implying a potential upside of 22% from the stock’s previous close. The … Read more