GAGA Share Market News

[hfe_template id='11223'] [ad_1] The board of food and grocery delivery company Eternal has approved a proposal to cap foreign ownership in the firm at 49.5%, it said in a notice to the stock exchanges. The move is aimed at providing “greater operational flexibility” to its quick commerce unit, Blinkit, by allowing it to hold inventory, rather than operate solely as a marketplace, as required under India’s foreign investment rules. As of March 31, Eternal’s domestic ownership stood at 55%, the company said in a regulatory filing. “As a result, the company now qualifies as an Indian-owned-and-controlled company (IOCC) under applicable Indian foreign exchange regulations,” it said. The IOCC status will enable Blinkit to improve its margins, particularly in fragmented or unbranded categories, as well as in the established fast-moving consumer goods segment, where owning inventory allows for better margins, it said. The proposal is subject to shareholders’ approval. In Novem...

[hfe_template id='11223'] [ad_1] Global brokerage firm HSBC has lowered its target price on Zomato (Eternal) and Swiggy, citing sustained intense competition in the quick commerce (Q-Comm) industry. In a note, HSBC said Gross Order Value (GOV) growth in the Q-Comm space will remain a key focus for investors in the near term, as players face persistent pricing and delivery pressures. It also pointed out that consensus expectations for food growth have now been lowered to 12–15%. HSBC maintained a 'Buy' rating on Zomato but cut its target price to Rs 280 from Rs 315. For Swiggy, it retained a 'Hold' rating and reduced the target to Rs 385 from Rs 460. Meanwhile, in early trade on Friday, shares of both companies rose in line with the broader market rally. Zomato jumped over 3% to Rs 218.2, while Swiggy gained 2.3% to Rs 347.5. Also Read: Sensex surges 1,400 pts, Nifty tops 22,800 as investors cheer US tariff reprieve Live Events Zomato shares also reacted ...

[hfe_template id='11223'] [ad_1] Indian benchmark equity indices traded flat on Wednesday as gains in metal stocks, following the government's recommendation of a temporary tax on certain steel imports, offset losses in IT stocks ahead of the Federal Reserve's policy decision. The BSE Sensex was trading 34 points, higher at 75,335. The Nifty50 was up 15 points, trading at 22,849 around 9:45 am. From the Sensex pack, Tata Steel, Zomato, NTPC, IndusInd Bank, SBI, and Bajaj Finance were the top gainers, rising up to 2%. Meanwhile, TCS, HCL Tech, Infosys, and Tech Mahindra opened lower. Tata Steel and other metal stocks surged after the Directorate General of Trade Remedies (DGTR) recommended a 12% safeguard duty on the import of certain steel products. CLSA said that the duty and domestic prices in line with import parity will add to the multiple positive catalysts for the sector, such as improving demand outlook due to China stimulus hopes and a rise in capex in Eu...

[hfe_template id='11223'] [ad_1] Diverging from the much-discussed financial sector, Helios Capital's Dinshaw Irani, in a recent interview with ETNow, expressed an inclination towards the quick-commerce platform companies. While acknowledging the importance of financials, Irani cautioned against aggressive sector rotation, advising investors to remain committed to stocks they are convinced about rather than chasing new themes. "The sector rotation theme is normally where you end up losing the most. It is better to stick to your convincing stocks at this point than try to take newer bets," Irani said. He then went on to state the opportunities within platform companies, particularly in the quick-commerce space. Without explicitly naming companies, Irani hinted at favoring the sector’s largest player, alluding to its strategic resilience and ability to withstand competitive pressures. "We think the reaction of the other platform company to competition wa...

[hfe_template id='11223'] [ad_1] The markets remained volatile for yet another session on Friday, shedding half a percent amid mixed cues. In today's trade, shares of Zomato, Jio Financial, Swiggy, Coal India, Airtel, Ami Organics and others will be in focus due to various news developments. Swiggy, Hyundai, Bajaj Housing Finance, Zomato, Jio Financial Shares of Swiggy, Hyundai, Bajaj Housing Finance, Zomato, Jio Financial will be in focus as the companies made it to exclusive Nifty and Nifty50 indices as part of the latest reshuffle. NTPC State-owned power giant NPTC and EDF India, an arm of French firm Electricite de France, have joined hands to set up pumped hydro storage and hydro projects bundled with renewable energy projects, and explore opportunities in the distribution business. Coal India State-run Coal India will establish a joint venture with an arm of France's EDF to build renewable power plants in South Asian countries. Marico The aspirational rural...

[hfe_template id='11223'] [ad_1] Zomato shares will remain in focus on Tuesday after CEO Deepinder Goyal unveiled Nugget, an artificial intelligence (AI)-backed customer support platform, which powers its food delivery business, quick commerce vertical Blinkit and Hyperpure. "Nugget helps businesses scale support effortlessly—highly customizable, low-cost, no dev team needed. No rigid workflows, just seamless automation," Goyal said in a post on X. 🚀 Introducing Nugget—an AI-native, no-code customer support platform. Nugget helps businesses scale support effortlessly—highly customizable, low-cost, no dev team needed. No rigid workflows, just seamless automation. ✅ Resolves up to 80% of queries autonomously ✅ Learns &… pic.twitter.com/pnVrUEhmcd — Deepinder Goyal (@deepigoyal) February 17, 2025 The company developed Nugget as an internal tool over the past three years, and it now supports over 15 million interactions per month on its platforms. "We’re...

[hfe_template id='11223'] [ad_1] With the Nifty rejig about to take place in March, Zomato shares could see an inflow of $702 million if the company is included in the index, states a report by domestic brokerage firm JM Financial. Zomato's potential inclusion is expected to bring a significant inflow of funds, estimated at $702 million, which could drive up demand for its shares. The expected share inclusion is 261.8 million. The official announcement regarding Nifty constituent changes is anticipated in February 2025, with the changes taking effect from March 31, 2025. This substantial inflow is attributed to the passive investment strategies of index funds and exchange-traded funds (ETFs) that track the Nifty 50 index. The potential inclusion in the Nifty could also improve Zomato's visibility and liquidity, making it more attractive to a broader range of institutional investors. While the estimated inflow is a significant factor, the actual impact on Zomato...

[hfe_template id='11223'] [ad_1] Swiggy shares fell up to 9.55% to Rs 433.25 on BSE in the morning session on Tuesday after peer Zomato surprised investors by reporting a slowdown in the food delivery business. The Q3 miss led brokerages to downgrade Zomato shares as well as cut target prices. Zomato shares fell 11% to Rs 214 on BSE as target prices fell to as low as Rs 130 given by global brokerage firm Macquarie. Nomura reduced target price from Rs 320 to Rs 290, Jefferies to Rs 255 from Rs 275, Nuvama from Rs 325 to Rs 300, and Kotak Equities from Rs 305 to Rs 275. Zomato’s food delivery GOV growth came in at 17% YoY and missed estimates by 1.8%. The company's management also pointed out that the food delivery business is going through a broad-based slowdown in demand, which started during the second half of November. All this had a negative impact on Swiggy shares as well, which have already lost about 25% of its value from peak. Also read | Zomato, Swiggy shares...

[hfe_template id='11223'] [ad_1] Shares of One97 Communications, parent company of mobile payment application Paytm, climbed as much as 8% on Thursday to Rs 926.95 on the BSE. The rally in the stock price followed brokerage firm Emkay Global upgrading the stock to 'buy' from its earlier rating of 'add', at a target price of Rs 1,050, which implies a potential upside of over 13% from the stock’s current levels. The brokerage increased its target price on Paytm by 40% to Rs 1,050 from Rs 750 earlier. However, this revised target price remains well below Paytm's recent peak of Rs 1,062.95 reached on December 17 last year. Despite a recent decline of nearly 20% from those levels, Emkay sees the current valuation as attractive for investors. Emkay highlighted that regulatory concerns for the company have eased with recent NPCI approval, which is expected to support Paytm in rebuilding its Monthly Transacting Users (MTU) base over the next 12 to 18 months. ...

[hfe_template id='11223'] [ad_1] Indian blue-chip equity indices, the Sensex and Nifty50, reversed their early gains and traded in the red on Friday. While IT stocks gained after TCS met its quarterly profit estimates, the gains were offset by declines in index heavyweight Reliance Industries and banking and financial stocks. The BSE Sensex was trading 217 points, or 0.28%, lower at 77,403. The Nifty50 was down 79 points, or 0.34%, trading at 23,447 around 9:41 am. From the Sensex pack, TCS, Tech Mahindra, Infosys, HCL Tech, and M&M were the top gainers, rising by up to 5% in early trade. Meanwhile, IndusInd Bank, NTPC, Zomato, Power Grid, and SBI opened lower. Tata Consultancy Services posted roughly in-line third-quarter results, marking the start of the earnings season. The company also provided encouraging signs about the revival of client spending, particularly in the key U.S. market, as expected by the street. Meanwhile, IndusInd Bank dropped over 2% and became...

[hfe_template id='11223'] [ad_1] Swiggy shares climbed as much as 6.1% on Thursday to Rs 520.70 on the BSE after global brokerage firm Bernstein initiated coverage on the food delivery player with an ‘outperform’ rating at a target price of Rs 635 per share, which implies a potential upside of 22% from the stock’s current levels. The brokerage firm noted Swiggy’s pioneering role in India’s food delivery market since 2014 and its subsequent expansion into quick commerce. Currently, Swiggy is the second-largest hyperlocal platform in India, trailing only Zomato. Bernstein said that Swiggy is well-positioned to capitalize on the structural shift toward super-fast delivery models in India’s rapidly growing convenience economy, which boasts an 8% penetration rate and a $70 billion total addressable market. Bernstein projects this segment to grow at a compound annual growth rate (CAGR) of over 50%. Swiggy shares closed 3.44% lower at Rs 491.75 on Wednesday but have seen a 7.6%...

[hfe_template id='11223'] [ad_1] Indian benchmark indices faced resistance around 23,900 after touching those levels in the early trade on Monday and finally ended in the red, dragged by banks and auto stocks. While the broader Nifty closed at 23,644.90, lower by 168.50 points or 0.71%, the 30-stock S&P BSE Sensex settled at 78,248.13, down by 450.94 points or 0.57%. When markets resume trading today, Adani Enterprises, Adani Wilmar, EaseMyTrip, will be in focus due to various related developments. Adani Enterprises, Adani Wilmar, EaseMyTrip, ITC, Mazagon Dock Shipbuilders and Zomato Adani Enterprises and Adani Wilmar Adani Enterprises on Monday announced its decision to fully exit its 44% holding in Adani Wilmar, in a bid to shift focus on its infrastructure platforms. The exit will take place in two phases with the first being a stake sale to Wilmar International’s wholly-owned subsidiary, Lence Pte Ltd, and a partial divestment to meet public shareholding requirem...

[hfe_template id='11223'] [ad_1] The BSE Sensex undergoes its periodic rebalancing on December 23, to reflect India’s evolving market dynamics. Food delivery firm Zomato replaces steel giant JSW Steel in the 30-share benchmark index. This reshuffle is set to drive $513 million in inflows into Zomato, while JSW Steel faces $252 million in outflows as institutional investors adjust portfolios, according to estimates by brokerage firm Nuvama. Here is a list of 6 stocks undergoing the Sensex reshuffle: Zomato Zomato’s inclusion in the Sensex sheds light on the rising prominence of tech-driven companies. The stock is set to receive inflows of $513 million, with an average volume impact of 2.6x, according to brokerage firm Nuvama. Zomato has seen its share price climb 126% over the past year and with its value growing to a market capitalization of Rs 2.72 lakh crore. JSW Steel JSW Steel will exit the Sensex, resulting in an estimated $252 million in outflows and an average vol...

[hfe_template id='11223'] [ad_1] Shares of food-delivery company Swiggy surged 1.7% to their day’s high of Rs 587.30 on the BSE as the global brokerage firm JP Morgan has initiated coverage on the stock with an ‘overweight’ rating and a target price of Rs 730. This indicates an upside potential of 26.5% for the stock from the current levels. The global brokerage firm has highlighted Swiggy’s position as a "dark horse" in India's local services landscape and sees a significant growth potential for Swiggy, emphasizing the company's renewed focus and improved execution in both food delivery (FD) and quick commerce (QC). JPMorgan projects that Swiggy will achieve critical scale across its core businesses, outperforming its peers in profitability expansion between FY25 and FY28. This confidence stems from Swiggy’s ability to enhance operational efficiency while driving robust growth in its key segments. It has also been noted that Swiggy currently trades at ...

[hfe_template id='11223'] [ad_1] Axis Capital has initiated coverage on Swiggy with a ‘buy’ rating and a target price of Rs 640, signalling a 20% upside from its last closing price. The brokerage sees significant opportunities in Swiggy’s long-term growth, on the back of robust growth in food delivery and quick commerce, a projected 38% revenue CAGR, improving profitability, and a strengthened leadership team. The brokerage said Swiggy's Instamart is forecast to secure a 31% market share in quick commerce by FY27, further solidifying Swiggy’s position in this high-growth segment. In comparison to Zomato, which dominates India’s food delivery market with a 53% share, Swiggy holds a respectable 38% share, making it a strong second player. While Zomato has an edge in profitability and scale, Axis Capital notes that Swiggy is steadily closing the gap. "Overall, we believe that in scale and profitability, although Swiggy lags Zomato, there has been some directional i...

[hfe_template id='11223'] [ad_1] Newly listed Swiggy shares climbed as much as 9.2% on Thursday to Rs 565.85 on the BSE, extending a results-driven rally into a second session, as the food delivery giant saw its losses during the July-September quarter narrow 5% to Rs 625.53 crore, from Rs 657 crore in the year-ago period. Buoyed by narrowing losses and robust revenue growth reflected in the financial results for the quarter ended September, Swiggy shares have rallied nearly 13% in the last two trading sessions. The company reported that its revenue from operations grew 30% year-on-year (YoY) to Rs 3,601.5 crore, up from Rs 2,763.3 crore in Q2 FY24. Quarter-on-quarter (QoQ), revenue rose 11.77%. Swiggy’s gross order value (GOV) surged 30% YoY to Rs 11,306 crore, and the platform’s monthly transacting users increased 19.2% YoY to 17.1 million, indicating steady user growth. Also read | Jane Street’s Rs 4.3 crore job offer to IIT student sheds light on options trading ineq...

[hfe_template id='11223'] [ad_1] India’s live events industry is on a rapid growth trajectory, now valued at Rs 88 lakh crore and poised to grow at an 18% CAGR through 2026. Companies like TIPS Music, Saregama India, and Zomato are capitalizing on this surge, with high-profile events featuring artists like Coldplay and Diljit Dosanjh fuelling this boom, as ticket prices for these events skyrocket up to Rs 1 lakh. The live music and concert market in India has transitioned from a niche sector to a mainstream phenomenon, thanks to a growing appetite for both international and homegrown talent, increasing disposable incomes, a growing Gen Z audience, and collaborations between event organizers and digital platforms. TIPS Music TIPS Music, one of India’s leading music labels, is capitalizing on this growth by leveraging its vast music catalog and expanding its presence across digital and live event platforms. The company’s strong foothold in digital music streaming, particul...

[hfe_template id='11223'] [ad_1] Citing Zomato’s market dominance and superior execution, brokerage JM Financial expressed a preference for Zomato over Swiggy, highlighting the challenges Swiggy may face in establishing its footing in this space. In its report, JM Financial highlights Zomato’s leadership and execution record, suggesting it holds an edge over Swiggy despite the latter’s advances in quick commerce through its Instamart vertical. “We would prefer Zomato if asked to pick only one due to its superior execution in the past and market leadership across key segments,” the report states, positioning Zomato as the more favorable investment choice. Swiggy’s Instamart has struggled with operational challenges, particularly as competitors like Blinkit and Zepto have gained ground. JM Financial points out that “Blinkit has achieved near-break-even,” while Instamart still faces hurdles to reach similar profitability levels. Zomato’s acquisition of Blinkit, meanwhile, h...

[hfe_template id='11223'] [ad_1] (This story originally appeared in on Oct 24, 2024) Zomato has a clarification on the recent platform fee hike – a day after the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) reportedly sought clarification from the online food delivery platform. Zomato said that the Rs 10 platform fee hike is “not a rumour”. In a document addressed to the BSE, Zomato said that the news about platform fee hike is not a rumour and the changes “are a routine business matter”. Here’s the complete clarification by Zomato. Dear Sir, We are in receipt of your email bearing ref. no. L/SURV/ONL/RV/AA/ (2024-2025)/ 77 dated October 23, 2024, seeking a clarification on news item appearing on https://www.livemint.com captioned "Zomato hikes platform fee to Rs.10 amid festive season rush". At the outset, we would like to state that this is not a rumor, as the source of information mentioned changes in our platform fee are a routine business...

[hfe_template id='11223'] [ad_1] Shares of One 97 Communications-owned Paytm jumped 5% to an intraday high of Rs 722.50 on the BSE after the National Payments Corporation of India (NPCI) granted the company approval to onboard new UPI users, subject to adherence to all procedural guidelines and circulars. "We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users, with adherence to all NPCI procedural guidelines and circulars," the company stated in a stock exchange filing. This comes after the Reserve Bank of India on January 31 this year directed Paytm Payments Bank to stop deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc after February 29, 2024, other than any interest, cashback, or refunds that may be credited anytime. This approval, communicated via a letter dated...