The reversals come amid a broader selloff in Indian stocks, with the NSE Nifty 50 Index down 12% from its September record high
Both Zomato and Swiggy have defended their quick delivery services and are working to dispel fears of data exploitation
Zomato Q3 results: Zomato, on Monday, reported a 57 per cent Y-o-Y fall in net profit at Rs 59 crore for the October-December quarter
Restaurant body to strengthen ONDC presence amid private labelling and high commission woes
Stock market today: The Nifty fell below 23,000 in intraday trade today, with heavyweights like RIL, SBI, Bajaj Finance, ICICI Bank, HDFC Bank, Bharti Airtel, and Maruti Suzuki all declining
Zomato's management expects the losses in Blinkit to continue in the near term, due to aggressive store expansion.
Technical charts show that Paytm is seeking support around its key moving averages on the daily and weekly scale; while Zomato is on the verge of a negative breakout on the weekly scale.
The company's revenue from operations rose 64 per cent year-on-year (Y-o-Y) to Rs 5,405 crore in Q3, up from Rs 3,288 crore a year ago
Today, a sessions court in Kolkata sentenced Sanjay Roy to life imprisonment in the rape and murder of a doctor at RG Kar Medical College and Hospital.
Stock Market Highlights, January 20, 2025: Indian markets closed on a positive note on Monday with the 30-share Sensex gaining 454 points or 0.59 per cent to settle at 77,378.91
Zomato Q3FY25 results: Zomato aims to increase the number of Blinkit stores to 2,000 by December 2025
Q3 FY25 company results January 20: Zomato, Paytm, IDBI Bank, L&T Finance, Dr Reddy's, and YES Bank will be releasing their Oct-Dec quarter report today
Stocks to watch on January 20, 2025: Wipro's Q3 net profit increased to Rs 3,354 crore from Rs 3,209 crore Q-o-Q, while revenue was Rs 22,319 crore, slightly above estimates
Analysts and investors will eye the outlook on Blinkit, a quick commerce company owned by Zomato
The letter raised objections to Zomato and Swiggy's entry into quick food delivery services through their private-label brands, Bistro and Snacc
The lease agreement is for five years, commencing on February 15, 2025
The app is available on Apple's App Store and is currently ranked 12th in the food and drinks section
Restaurants body NRAI is also exploring legal routes and is likely to knock on the doors of the Competition Commission of India to address issues related to private labelling
The CCI had ordered an investigation by the Director General (DG) into the conduct of the food delivery aggregators, the details of which are yet to be made public
NRAI has alleged that the introduction of standalone apps, Bistro and Snacc, by Zomato and Swiggy respectively is raising issues for restaurant partners