Indian benchmark indices Sensex and Nifty50 opened higher on Tuesday, buoyed by strong earnings from top private lenders and Eternal (Zomato). Investors also remained cautious ahead of a potential trade deal with the US, with the August 1 deadline approaching. The BSE Sensex was trading 193 points, or 0.24%, higher at 82,393. The Nifty50 was…
READ MOREIndia Inc’s Q1 FY26 earnings season gains momentum this week, with 95 companies scheduled to announce their quarterly results. Key names to watch include Infosys, Zomato (Eternal), UltraTech Cement, Paytm, Bajaj Housing Finance, Bajaj Finance, Bajaj Finserv, Nestle India, Shriram Finance, Tata Chemicals, Dixon Technologies, IDFC First Bank, and Kotak Mahindra Bank. Here’s the day-wise…
READ MOREShares of Eternal, the parent company of food delivery major Zomato and quick-commerce platform Blinkit, have surged nearly 30% since the end of March, mirroring the exuberance in India’s broader market. But with a staggering price-to-earnings ratio of 480 and profitability still some distance away in its fast-growing verticals, investors are now asking the key…
READ MOREIIFL Capital has initiated coverage on Swiggy with a ‘buy’ rating and a target price of Rs 535, implying a 50% potential upside from the current market price of Rs 355.9. The brokerage cited Swiggy’s improving execution, strong positioning in food delivery, and underappreciated potential in quick commerce as key drivers of future gains. Swiggy,…
READ MOREJust when Swiggy and Zomato thought they had the food delivery turf locked down, ride-hailing app Rapido has kicked the door open, threatening to shake up the duopoly with a bold, undercutting strategy. The bike-taxi platform has entered the food delivery business, charging restaurants commissions nearly half of what Zomato and Swiggy do. That single…
READ MOREShares of Eternal, formerly known as Zomato, will be in focus on Monday amid expectations of passive outflows worth $840 million following weightage cuts by global index providers FTSE and MSCI. The revisions come after a reduction in the Foreign Ownership Limit (FOL) for the stock. In the FTSE All World Index, Eternal’s investability weighting…
READ MOREHyundai Motor India, NTPC Green Energy, Swiggy and Waaree Energies will become part of FTSE global equity indices in the largecap category while ITC Hotels, a spin-off from diversified conglomerate ITC will exit largecaps to enter the midcap segment in the June 2025 quarterly review, according to a media release by FTSE Russel. Hyundai Motor,…
READ MOREShares of Eternal, which operates Zomato and Blinkit, could come under selling pressure once the company’s board starts the process of conversion into Indian Owned & Controlled Company (IOCC). An overwhelming majority of 99% shareholder votes have been in favour of the proposal to impose a cap on foreign ownership, after which the stock can…
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