Swiggy share price extended losses to fourth session, while Eterna share price reversed gains on Friday. The share prices were trading 1.77 per cent and 0.53 per cent down, respectively, as of 9:40 a.
The brokerage's analysis of its universe of stocks revealed that after a prolonged period of earnings cuts, companies are beginning to report earnings upgrades.
In the Nifty Smallcap 100 basket, Ola Electric Mobility was the top loser, falling more than 4 per cent to ₹35.68. NBCC was down over 3 per cent
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Out of more than 80 investors who showed interest, allocations were made to 61 investors, of which over 15 are new shareholders, according to the company
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Swiggy shares rose 3 per cent after its shareholders approved raising up to ₹10,000 crore via qualified institutional placement
Swiggy shareholders have cleared a plan to raise up to ₹10,000 crore via QIP as the company ramps up its quick-commerce push amid intensifying competition and rising capital deployments
Swiggy's board approved plans on Nov. 7 to raise up to ₹10,000 crore through a qualified institutional placement, subject to shareholder and regulatory approval
Nomura expects Indian markets to trade in the range of 20-22x one-year forward earnings, assuming risk premia remain low.
Eternal, with its category leadership and Blinkit's rapid horizontal expansion, is well-positioned to replicate this trend in India, providing high visibility for sustained growth
Bolt now accounts for a tenth of Swiggy's orders, with higher stickiness and wider restaurant onboarding
In the January to June period this year, Swiggy grew its customer base by 35 per cent year-on-year (Y-o-Y) to 21.6 million and its GOV was up 43 per cent
According to JM Financial Institutional Securities, in a worst-case scenario, the amount payable by Eternal and Swiggy towards the fund would work out to around ₹2.1-2.5 per order
On-demand convenience firm Swiggy Ltd on Saturday termed the newly notified labour codes as a "transformative step" that will unlock far-reaching benefits for millions of workers. While supporting the government's vision of a modern and inclusive social security net, in a regulatory filing, Swiggy said it does not anticipate any material impact from the CoSS (the Code on Social Security, 2020) on its business sustainability, cost structure, or long-term financial performance. The government on Friday notified the four labour codes, which have rationalised 29 existing labour laws. These will formalise employment, strengthen worker protection, and make the labour ecosystem simpler, safer and globally aligned. Under the new codes, 'gig work', 'platform work', and 'aggregators' have been defined for the first time. The codes stipulate that aggregators employing gig workers must contribute 1-2 per cent of annual turnover to social security, with the total contribution not exceeding 5 per
CLSA noted that India's largest consumption categories, those with market sizes above $1.5 billion, are concentrated in beauty and personal care products
The delivery partners can enrol for the courses via the Swiggy Partner app
Swiggy has informed select restaurant partners that it will begin charging an additional fee on Swiggy One orders from November 25, adding to existing commissions
Chandan Taparia, head of derivatives and technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying shares of Eternal and Swiggy
The company had started pilot testing the new app a few months ago. During that stage, while the app was available on the Google Play Store and Apple App Store, it could only be accessed by invitation