Latest Updates Around The World
ET Intelligence Group: Online delivery company Eternal lost nearly 9% in just two trading sessions after its December quarter results, despite gains in its key business units. The stock’s decline reflects investor concerns about the company’s ability to maintain its operating performance in the face of escalating competition. This could force Eternal, which also operates […]
Eternal, which operates food delivery platform Zomato and quick-service business Blinkit, on Wednesday reported a 73% year-on-year (year-on-year) increase in consolidated net profit to Rs 102 crore. Operating revenues rose 201% year-on-year to Rs 16,315 crore.The company has informed the stock exchanges that Deepinder Goyal has resigned as Managing Director and Chief Executive Officer with […]
Shares of Eternal, formerly Zomato, rose as much as 6.2% to their day’s high of Rs 287 on the BSE on Wednesday, ahead of third-quarter results scheduled later today. The stock was the biggest gainer on the 50-share Nifty in the afternoon. Eternal is expected to show strong overall growth in the December quarter, largely […]
India’s primary market is set for an active week, with four companies looking to raise around Rs 2,066 crore through initial public offerings, led by logistics firm Shadowfax Technologies, even as investor focus remains on upcoming listings such as Bharat Coking Coal and Amagi Media Labs.Investors will be watching a total of seven listings next […]
India’s overall GDP growth may look impressive, but equity markets are likely to focus more on earnings acceleration and valuation comfort going forward, said GV Giri, president and head of research at IIFL Capital.Speaking to ET Now, Giri said India’s reported real GDP growth of 8.2% should be viewed with caution as it is supported […]
UBS has cut adjusted EBITDA estimates for Eternal (Zomato) by 10-18% and for Swiggy by 12-28% for the next two to three fiscal years, citing increasing competition in India’s fast-trade sector slowing margin recovery. The analyst revisions pose a significant challenge for both platforms as they compete for market share in a segment characterized by […]
NEW DELHI: Food delivery giants Zomato, Swiggy and Magicpin reported a huge surge in orders on New Year’s Eve and said operations remained largely unaffected despite a nationwide strike call from a section of gig workers demanding better wages and working conditions.Eternal founder Deepinder Goyal shared a post on ‘Remove the 10-minute delivery option’: Gig […]
India’s food and high-speed trading ecosystem is entering a decisive phase, marked by new entrants, deep-pocketed incumbents and increasing investor scrutiny of profitability. Even as a new player filed its draft Red Herring Prospectus (DRHP) this weekend, the sector remains flush with capital, with existing players sitting on nearly ₹40,000 crore of cash. While fundraising […]
Twenty years ago, Indian skies were filled with competition. Multiple airlines competed for every passenger, every route and every fare. Jet Airways, Indian Airlines, Kingfisher and Sahara all fought for survival on the basis of price, service and network strength.Today that sound has disappeared. IndiGo and Air India together control almost 90% of the domestic […]
Indian equity markets may show renewed cheer on the broader side, but the next decisive step will depend on earnings visibility, currency stability and progress in the India-US trade deal, said Ashi Anand, founder and CEO of IME Capital, who believes that in the near term, markets are likely to remain within a certain range […]
