Page 9 - Zomato

Eternal shares slide 4% on $840 mn outflow fears as FTSE, MSCI cut weight

Shares of Eternal fell over 4% on reports of passive outflows following index weightage cuts by global index providers FTSE Russell and MSCI

Zepto's Aadit Palicha accuses 'rival q-commerce CFO' of smear campaign

Zepto's Aadit Palicha claims a rival CFO is running a smear campaign to undermine its rapid Ebitda gains and aggressive dark store expansion

Zepto pays ₹95 crore in April salaries, rivals Swiggy on employee costs

Zepto's ₹95 crore salary payout in April nears Swiggy despite a smaller workforce, reflecting its aggressive hiring strategy and drawing comparisons with larger rivals like Zomato and Swiggy

Zomato adds new charges for long-distance deliveries; restaurants unhappy

In addition to the new delivery fee, Zomato has also asked some restaurants to sign new agreements reflecting a name change of its parent company to 'Eternal'

Logistics firm Shiprocket confidentially files draft papers for IPO

Shiprocket's IPO will include a fresh issue and offer for sale; proceeds to fund tech upgrades, acquisitions, and expansion of logistics and warehousing capacity

CCPA likely to direct Zomato, Swiggy to revise cancellation, refund policy

The consumer watchdog took suo-motu cognisance of unfair practices in 2024 and is now likely to direct Zomato and Swiggy to revise refund and cancellation policies

Prosus CEO Bloisi visits India to launch flagship 'Luminate' event series

Bengaluru hosts Prosus's inaugural Luminate forum as the firm strengthens its ties with India's tech ecosystem and explores AI, digital commerce, and frontier tech

Shiprocket plans to raise ₹2K cr-2.5K crore via confidential IPO route

Logistics unicorn Shiprocket is preparing a ₹2,000-2,500 crore IPO comprising fresh issue and OFS, with proceeds likely to go into tech, warehousing, and expansion

Zomato's parent firm inks 5-yr office lease deal in Andheri for Rs 95 cr

The lease agreement spans five years, featuring a fixed monthly rent of Rs 160 per sq ft for the first three years, followed by a 15 per cent escalation thereafter

Delhi govt to set up welfare board for gig workers, frame schemes

Delhi labour minister Kapil Mishra on Friday said the government will constitute a welfare board for gig and platform workers and frame schemes for their welfare. Mishra chaired a meeting with gig workers and representatives from major platforms and aggregators, including Swiggy, Zomato, Blinkit, Uber, UrbanClap, and BigBasket, said an official statement. The session provided a platform for gig workers to voice their concerns directly to the government and aggregators. They highlighted pressing issues such as long working hours, inadequate payments, and the absence of an effective grievance redressal system, which have long impacted their livelihoods, it said. "All these problems will be addressed with the cooperation of platforms and aggregators. The government will constitute a welfare board for gig and platform workers and will frame schemes for their welfare," he said. He also assured the platforms and aggregators that they will not face harassment from inspectors or any other

Zomato, Swiggy now levy rain surcharge on Gold, One premium users

Zomato and Swiggy will now apply rain surcharge on premium members ending earlier waivers as both platforms intensify efforts to boost profitability and cut losses

Eternal leases over 84,000 sq ft office space in Mumbai's Andheri

The lease spans five years with a rent escalation clause, includes 57 parking spots, and was registered on 9 May with a fit-out period of 150 days starting 1 May 2025

InfoEdge earns 36% gross IRR on startup investments since 2007

InfoEdge's startup portfolio has yielded a 36 per cent gross IRR since 2007, led by Zomato and Policybazaar; total FMV of investments has reached Rs 36,855.4 crore

Swiggy Bolt expands to 500 cities as Zomato shuts down 'Quick' service

Swiggy Bolt now handles one in every ten food orders on the platform, marking rapid expansion even as rival Zomato discontinues its instant delivery service 'Quick'

Eternal shares bounce 9% from day's low post Q4 show; is the worst over?

Eternal share price: Shares of Eternal recouped morning losses after most analysts maintained their 'Buy' rating on the stock

Swiggy expands 10-minute food delivery service 'Bolt' to over 500 cities

Swiggy on Friday said its 10-minute food delivery service 'Bolt', which was launched in October last year, is now operational in more than 500 cities across the country. Presently, at least one in every 10 food delivery orders delivered by Swiggy are delivered using the 'Bolt' service. The offering is now available in over 500 cities across India. Swiggy's scaling up of 'Bolt' comes at a time when its rival Eternal, formerly Zomato, has announced shutting down of the 'Zomato Quick' offering, stating it is not seeing the path to profitability without compromising on customer experience, observing that the current restaurant density and kitchen infrastructure is not set up for delivering orders in 10 minutes, leading to inconsistent customer experience. Swiggy Food Marketplace CEO Rohit Kapoor said, "Bolt fits into the way people live today. You're hungry, you want something now, and you don't want to compromise. We built Bolt for that moment. Seeing it scale to 500-plus cities in ju

NRAI dials Rapido to challenge dominance of Swiggy, Zomato in food delivery

Initially launched as a ride-hailing platform, Rapido is eyeing to enter food delivery to challenge the dominance of Swiggy and Zomato

Stocks to Watch, May 02: Eternal, Adani Ports, NCC, JSW Infra, auto stocks

Stocks to Watch on Friday: Adani Enterprises, Eternal, NCC, Auto stocks, GR Infraprojects, Adani Ports, Indus Towers, and Federal Bank are among the stocks to watch today, May 02, 2025

Zomato's parent Eternal Q4 net profit falls 78% to ₹39 cr, revenue up 64%

The company's revenue for the quarter rose 63.7 per cent year-on-year (Y-o-Y) to ₹5,833 crore in Q4, up from ₹3,562 crore a year earlier

ONDC & NRAI working together to shape a robust framework for food business

Several restaurant members had told Business Standard that there could be a tie-up with Rapido