Zomato
Bernstein hikes Zomato target price, projects 16% upside amid quick-commerce boom
Brokerage firm Bernstein has upheld its 'Outperform' rating on Zomato and adjusted its target price to Rs 330, indicating a potential increase of 16% from the previous day's closing price of Rs 283.9. The firm attributes this revised outlook to the rapid expansion of the quick commerce (QC) sector. Bernstein notes that initial assumptions about QC—such as its focus on small 'top-up' orders, its appeal being limited to metropolitan areas, and its catering mainly to affluent consumers—have been consistently updated each quarter.
Zomato shares soar 126% this year: Still time to catch the bull run?
Zomato Share Price: Zomato shares have surged by 126% this year, driven by strong growth in food delivery and quick commerce. Analysts remain optimistic about the company's future, citing improved margins and strategic acquisitions. Major brokerage firms like UBS, Jefferies, and JP Morgan have given positive ratings, further boosting investor confidence.
Zomato shares zoom 4% to fresh all-time high as UBS reaffirms buy rating
Zomato Share Price: Shares of Zomato surged 4% to a new high of Rs 283.60 after UBS maintained a buy rating with a target price of Rs 320. The growth optimism follows Zomato's acquisition of Paytm's ticketing business and positive outlooks from Jefferies and JP Morgan. The stock has risen 15.6% over six days.
Big movers on D-Street: What should investors do with Granules India, Nazara Tech and Zomato?
The Sensex reached a historic 83,000 level, while the Nifty closed at a lifetime high. Granules India fell 16.47% due to US FDA concerns, Nazara Tech gained 5% with a bullish breakout, and Zomato rose 4.2% after closing above its breakout level. Analysts provide insights on potential market moves.
Zomato shares gain 15%, remain unbeaten for 5 sessions
Zomato Share Price: Zomato shares surged 15.5% to a record high of Rs 280.60, driven by a Paytm deal, positive broker ratings, and strong earnings growth. Jefferies targets Rs 335, predicting significant delivery revenue growth.
Zomato shares rally 8% as JPMorgan hikes target price to Rs 340
Zomato Share Price: Shares of Zomato surged 7.6% on the BSE today, hitting an intraday high of Rs 261.50, following JPMorgan's target price increase to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan highlighted Zomato’s leadership in retail consumer transformation through Quick Commerce and its expansion across metros after validating the model in NCR.
Hot stocks: Brokerage view on Tata Tech, Zomato and Shriram Finance
Citi has issued a sell rating on Tata Tech with a target price of Rs 945, citing uncertainties related to VinFast revenues and client concentration. Jefferies has set a base case target of Rs 335 for Zomato, anticipating strong growth in delivery revenue. UBS recommends buying Shriram Finance, raising the target price to Rs 3,850 due to higher growth visibility.
Hot Stocks: Brokerages on Nykaa, Zomato, Adani Ports and Cholamandalam Investment
Kotak Securities has downgraded Nykaa to "Sell" from "Add" and lowered the target price to Rs 190 from Rs 195. While Nykaa's portal excels in product discovery, Q-commerce portals are expanding their BPC product range. Nykaa needs to invest in faster delivery. Kotak Securities also reduced FY25-27 EBITDA estimates by 3-7% due to lower margins, leading to the downgrade amid a sharp stock price increase.
Trent, Zomato help Junior Nifty beat midcap and smallcap peers. Where to invest?
Tata Group's Trent, poised to join the Nifty 50 on September 30th after the NSE reshuffle, has been a top performer with a remarkable 244% return in the past year. Other standout stocks include Zomato, Power Finance Corporation (PFC), REC, Hindustan Aeronautics (HAL), Indian Railway Catering and Tourism Corporation (IRCTC), and Bharat Electronics (BEL), delivering returns ranging from 105% to 165%.
Hot stocks: Brokerages on Zomato, Max Financial, AU Small Finance Bank and IndiGo
JPMorgan has raised its target price for Zomato to Rs 340 from Rs 208, maintaining an overweight rating. Zomato is transforming retail with Quick Commerce and expanding in metros. The firm expects it to disrupt e-commerce, increasing forecasts for FY25-27 by 15-41%. Zomato is also expanding its "Going Out" business.
Zomato captains India Inc’s dream Team XI with over 1,000% profit growth
The June quarter saw Zomato and 10 other companies achieving over 1,000% profit growth. Zomato's profit skyrocketed 12,550% year-on-year. Other remarkable performers were Shakti Pumps and Lotus Chocolate. Experts advise focusing on growth outlooks rather than past profits when making investment decisions.
Billionaire Raamdeo Agrawal picks up stake in IPO-bound Swiggy, Zepto
This news highlights Agrawal's growing interest in emerging businesses, particularly as the quick commerce sector experiences significant momentum in fundraising. According to an ET report, the family office of Bollywood superstar Amitabh Bachchan has also acquired a small stake in Swiggy. This was done by purchasing shares from the food delivery and quick-commerce company's employees and early investors, indicating continued confidence in the sector's potential.
Zomato surges 3% on Paytm’s ticketing business acquisition, brokerages predict 29% upside
Zomato’s shares rose 3% after acquiring Paytm’s ticketing business, marking its entry into event and travel booking sectors. Analysts are optimistic, with target prices up to Rs 335. The board approved a deal with One 97 Communications, WEPL, and OTPL for this acquisition on Wednesday.
Zomato shares fall 2% after Antfin Singapore likely offloads 2% stake via block deal
Zomato Share Price: Shares of food aggregator Zomato dropped 2% to a day's low of Rs 257.10 on the BSE in the early trading session following reports that Antfin Singapore sold a 2.4% stake in the company through a block deal. Approximately 21 crore shares, equating to a 2.4% stake, were traded in this deal. The identities of the official parties involved in the transaction have not yet been revealed.
Paytm shares rally over 5% as brokerages raise target price on Zomato deal
Paytm Share Price: Shares of One 97 Communications (Paytm) surged 5.5% to Rs 604.45 on the BSE after brokerages raised their target prices following the sale of its entertainment business to Zomato. CLSA upgraded its target to Rs 530, while Citi increased its target to Rs 440, keeping a "Sell" rating.
Zomato approves acquisition of Paytm's entertainment ticketing business
One 97 Communications is selling its movie and events ticketing businesses to Zomato. This will be done by first transferring these businesses to its subsidiaries OTPL and WEPL, and then Zomato will acquire these subsidiaries, making them its own.
Paytm shares rise 3% as co completes transfer of events biz to Zomato
The transaction completion led to a boost in Paytm and Zomato's share prices. Payments will be completed after post-closing audit adjustments.
Zomato shares rally 6% to fresh high after UBS raises target price
Zomato Share Price: Zomato's shares surged 6% to a new 52-week high of Rs 280 on BSE on Monday after UBS raised its target price from Rs 260 to Rs 320. The brokerage also adjusted employee cost estimates to account for increased investments in manpower. CLSA has the highest target price on Zomato at Rs 350, while Motilal's target is Rs 300, Nomura's Rs 280, and Bernstein's Rs 275.
Antfin Singapore to sell Zomato shares worth $408 million via block deal: Report
Antfin currently holds 4.3% stake in the food delivery platform. At the floor price, the shares will be available for sale at a discount of 4.6% over Monday’s closing price of Rs 263.24 on the NSE. Zomato's shares rose 6% intraday following UBS's target price hike. The company posted a substantial increase in profit and revenue for the June quarter, doubling its market capitalization in 2024.
Stocks in news: Zomato, Paytm, Zen Technologies, Coal India, IREDA, Alkem Labs
Markets increased on Wednesday. Zomato approved a deal with Paytm. Coal India pursued lithium acquisitions. Zen Technologies launched a QIP. BEML signed an MoU with the Indian Navy. IREDA considered raising funds. Welspun Enterprises, Alkem Laboratories, India Grid Trust, and Cyient also saw notable activities.
Sensex ends 151 points lower, Nifty slips below 25,150 on RIL weakness, US data jitters
Indian benchmark equity indices ended lower on Thursday, reversing early gains due to weakness in Reliance Industries. The 30-share BSE Sensex fell 151 points to settle at 82,201, while the NSE Nifty declined 53 points to close at 25,145. Investors are awaiting crucial US non-farm payroll and unemployment data.
Stocks in news: Zomato, Cyient DLM, L&T, Petronet LNG, NHPC
Stocks in news: The markets saw an uptick of almost half a percent on Tuesday, with Zomato, Cyient DLM, L&T, Petronet LNG, and NHPC grabbing attention. Notable activities included a major stake sale by Antfin Singapore Holding in Zomato, and equity transactions involving PNB Housing Finance and Cyient DLM. L&T got GST relief, while NHPC reported a landslide at Teesta-V.
Zomato introduces food expense management platform 'Zomato for Enterprise'
Legends offered iconic dishes from 10 cities to other parts of the country. The company had earlier put on hold the service and restarted it in July with a few tweaks.
Stocks in news: IndusInd Bank, Zomato, Saraswati Saree Depot, HCL Tech, Poly Medicure
The benchmark indices saw a flat closing on Monday with investors waiting for more triggers. Key focus areas were IndusInd Bank's RBI nod for a mutual fund business, Saraswati Saree Depot's 30% premium debut, and movements in Zomato, Poly Medicure, Motilal Oswal, Hi-Tech Pipes, Sapphire Foods, and HCL Tech shares.
Zomato shares fall 1.89% as Nifty gains
The stock quoted a 52-week high price of Rs 286.5 and a 52-week low of Rs 97.81.
F&O traders could get 80 new stocks to play
"The real excitement kicks in if F&O inclusion for both these names happens within the next few months," said Nuvama Alternative's head Abhilash Pagaria. "This could pave the way for Zomato and Jio to enter the Nifty 50 in the March 2025 review."
Zomato shares rise 0.6 per cent in Monday's trading session
The Relative Strength Index of the stock stood at 62.42 on Monday.
Zomato Gurugram office parking lot video surprises internet. Super-luxury cars go viral
A viral Instagram video reveals the luxurious cars at Zomato and Blinkit’s Gurgaon headquarters, including CEO Deepinder Goyal’s Aston Martin DB12. The parking lot also features Porsche, Lamborghini, Ferrari, Audi, Mercedes, and BMW models. Zomato shares have more than doubled this year. Goyal is the second richest person in Gurgaon with a net worth of ₹9,300 crore.
Alibaba affiliate may sell 1.54% stake in Zomato
Antfin Singapore, part of Alibaba Group, arranged to sell a 1.54% stake in Zomato on Tuesday through block deals, anticipating raising around ₹3,400 crore. The shares were priced at ₹251.68 each, a 4% discount to the previous closing price. Antfin previously held a 4.24% stake and had sold a 2% stake earlier this year.
New age firms' 29% Q1 revenue growth beats BSE 500, 1-yr stock returns better too
New age companies showed strong performance in the April-June quarter, with an average 29% YoY revenue growth, led by Zomato. Paytm was an outlier, with a 36% decline. Newly listed firms including Unicommerce, Ola Electric, and Firstcry attracted considerable investor interest and delivered notable gains, reflecting a changing market sentiment.
Robust growth ignites rally in new-age stocks, 45% gains made in 6 months
New-age stocks surged recently, thanks to higher revenue growth and increased profitability through reduced spending. The ET E-commerce Index rose 45% in six months. Shares of Zomato, Paytm, and PB Fintech showed notable gains. Foreign institutional investors significantly increased their stakes, supporting the growth of these companies.
Zomato shares down 3.66% as Nifty falls
The stock quoted a 52-week high price of Rs 286.5 and low of Rs 97.07.
Zomato shares skyrocket 19% to double money in 2024, target prices go up to Rs 350
Zomato Share Price Updates: Shares of food delivery giant Zomato surged 10% to a day’s high of Rs 257.95 after reporting a multifold increase in PAT for the June quarter. The company posted a PAT of Rs 253 crore, up from just Rs 2 crore in the same period last year. Following this strong performance, brokerages such as CLSA raised their target price to Rs 350.
Buy Zomato, target price Rs 325: Axis Securities
Zomato Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 250598.11 Crore) operating in Services sector.
Bajaj Housing Finance: Is it time to hold or wait for a correction? Devang Mehta answers
The apprehension that the people earlier had when the IPO of Zomato had come and you saw the seesaw that happened on the stock price, both on the upside as well as on the downside, that was because, yes, India still more or less values companies on profits rather than on revenues.
Quick-commerce players scaling up 24x7 deliveries as festive season sets in
Quick-commerce platforms are expanding their 24x7 delivery services during the festive season to meet consumer demand, especially for late-night orders. Companies like Swiggy Instamart and Zomato are scaling up operations across multiple cities, focusing on impulse categories and essential items. This trend is driven by a rise in nighttime consumer behavior.
Hot stocks: Brokerage view on Shyam Metalics, IndiGo, Vedanta, Zomato and Paytm
Brokerage firms have issued diverse stock recommendations: UBS endorsed Shyam Metalics as a buy, Jefferies upgraded IndiGo and Zomato to buy, CLSA maintained Vedanta at outperform, and Citi kept a sell rating on Paytm but increased its target price. The firms pointed to strong growth prospects and strategic moves influencing their ratings.
Nifty rejig today: Trent, Bharat Electronics top candidates
Tata Group's Trent and Bharat Electronics might join the Nifty 50 index, replacing LTI Mindtree and Divis Laboratories, as per JM Financial. The rebalancing, based on six-month data till July 31, will be effective from September 30. Jio Financial and Zomato are not included due to segment restrictions.
Sensex jumps 200 points, Nifty above 24,800 as US Fed minutes boost rate cut hopes
Sensex and Nifty opened on a positive note Thursday, bolstered by Federal Reserve meeting minutes suggesting a likely rate cut. Companies such as Infosys and Tata Steel saw gains, while others like Power Grid declined. Paytm's shares jumped over 5% after Zomato agreed to acquire its entertainment and ticketing business.
Ola Electric surges over 80% since August 9 listing
Ola Electric Mobility's shares experienced an 82% increase since their August 9 market debut. Initially listed at ₹76, the stock rose to ₹157.4, driven by new vehicle introductions and institutional buying. Though analysts were skeptical, the long-term growth prospects have kept the stock buoyant.
Diljit Dosanjh's 'Dil-Luminati Tour 2024' concert ticket sold out in your city? Tickets still available for this city
Diljit Dosanjh's Dil-Luminati Tour 2024 has seen a surge in ticket sales, with most shows sold out. The tour kicks off on October 26, 2024, in Delhi and concludes in Guwahati on December 29, 2024, where tickets are still available. Book through Zomato Live to secure your spot.
Trent and BEL likely to enter Nifty; LTIM and Divi's Labs may exit
In September, Trent and Bharat Electronics (BEL) were expected to be added to the Nifty index, replacing LTIMindtree and Divi's Labs, said Nuvama Alternative & Quantitative Research. This reshuffling could bring in substantial capital. An official announcement was anticipated in August, and Zomato and Jio Financial might also be included if approved by Sebi.
Hot stocks: Brokerage view on Zomato, Ola Electric, M&M and HAL
Morgan Stanley has maintained an overweight rating on Zomato with a target price of Rs 278. Recent news indicates growing competitive intensity in the quick commerce sector, which underscores the increasing significance of the QC channel. While Morgan Stanley acknowledges that this heightened competition could impact profitability, they view maintaining market leadership as crucial, even if it requires delaying profitability.
Antfin Singapore sells Zomato shares worth Rs 4,771 crore via block deals
Antfin Singapore Holding sold Zomato shares worth Rs 4,771 crore on Tuesday through two block deals. Over 18.54 crore shares were sold at a premium over the floor price. The final stock price closed at Rs 263.20 on the NSE.
Mazagon Dock, GRSE shares fall up to 12% in 3 days. Here’s why
GRSE Share Price: Shares of Mazagon Dock Shipbuilders and Garden Reach Shipbuilders fell sharply after ICICI Securities predicted significant downside risks. The brokerage firm cited stock overvaluation and potential order execution challenges, influencing investor sentiment negatively.
Stocks in news: Titan, Hindustan Zinc, ITC, SpiceJet, Zomato
Sensex reached a new peak, closing 126 points higher, and Nifty crossed the 25,000 mark for the first time. Titan, Hindustan Zinc, ITC, Tata Motors, Zomato, Adani Enterprises, and SpiceJet shared their quarterly results. ITC reported a small rise, while Tata Motors and Adani Enterprises showed significant profit growth. SpiceJet canceled flights due to operational reasons.
ET Startup Awards 2024: Playing on front foot in innovation game
The jurors were full of praise for the variety of technology-led businesses competing for the top spot across campuses, in the social enterprise field, among women-led ventures and those bootstrapping their way to success. Jury chair Nandan Nilekani was seen greeting fellow Bangalorean and Zerodha cofounder Nikhil Kamath warmly, introducing him as a hometown boy to some of the other jury members enjoying the breezy afternoon before being cloistered together for the discussions.
Zomato employee leaves laptop open. Colleagues hijack it for wedding prank!
A Zomato employee, Niharika, became the target of a playful office prank after leaving her laptop unattended. Her colleagues used her Slack account to send a fake wedding announcement, inviting the team to a "brownie party" in February. The prank, shared by Niharika on X (formerly Twitter), quickly went viral, gaining over 100,000 views and prompting many to reminisce about similar workplace pranks.
Big movers on D-Street: What should investors do with ITC, Zomato and Adani Wilmar?
The equity benchmarks experienced notable declines, breaking a five-day upward trend amidst a global sell-off. Key stocks included Zomato, which gained significantly, ITC, which saw slight losses, and Adani Wilmar, which increased. Analysts highlighted bullish trends in Zomato and Adani Wilmar, while ITC may see a pivotal move if it surpasses 500 levels.
Hot Stocks: Brokerage view on ITC, Sun Pharma, Adani Ports, Zomato and Dabur
Jefferies has maintained a buy rating on ITC with a target price of Rs 585. The 3% growth in cigarette business volume met expectations, and stable taxation suggests continued momentum in the coming quarters. However, other segments fell short in terms of revenues and margins.
Q1 results today: ITC, Tata Motors among 88 companies will announce earnings on Thursday
Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.
Stocks in news: ITC, Tata Motors, Zomato, Adani Enterprises, Infosys
Markets experienced a slight uptick on Wednesday. Key companies such as ITC, Tata Motors, and Infosys will be under focus due to their quarterly results. Tata Steel and Coal India reported profit growths, while Infosys faces a GST investigation concerning Rs 32000 crore. Bank of Baroda and Sonata Software also posted their quarterly results.
Dua Lipa India concert: Zomato boss forced to share proof that he paid for his own ticket
Zomato CEO Deepinder Goyal bought his own ticket for the Zomato Feeding India Concert, which sold out in less than 24 hours. He shared his ticket on Twitter and thanked supporters for their role in fighting malnutrition. The concert, featuring Dua Lipa and set for November 30th in Mumbai, promises a memorable night of music. Goyal also highlighted Zomato's new ticket resale feature and expressed anticipation for the event.
Zomato shares up 0.13% as Nifty gains
The stock quoted a 52-week high price of Rs 280.0 and low of Rs 96.47.
Near-term upside in IT stocks to be capped; eyes on Q2 results: Sandip Sabharwal
Sandip Sabharwal touches on the pricing of IT stocks and upcoming September quarter results while discussing the potential inclusion of Zomato and Avenue Supermarts in F&O. He emphasizes the importance of festival season demand for auto sales and sees potential in Bharti Airtel, large-cap banks, and the under-owned pharma sector for future performance.
Big movers on D-Street: What should investors do with L&T, Zomato and Ramco Cement?
Stocks that were in focus include names like L&T, which gained 2.21%, Zomato, which rose 2.75%, and Ramco Cement, whose shares jumped 3.23% on Friday.
Why is Zomato's Deepinder Goyal leaving all messages on seen? Hint: Dua Lipa
Deepinder Goyal, the Zomato CEO, announced that international pop star Dua Lipa will headline the Zomato Feeding India Concert on November 30 in Mumbai. The event, aimed at combating malnutrition and hunger in India, has already garnered over 300,000 registrations. Goyal urged fans to purchase tickets to support the cause and addressed an influx of free ticket requests, stating he’s leaving such messages "on seen."
Zomato shares jump 4% to fresh all-time high on platform fee hike
Zomato's shares surged 4% to a new high of Rs 232 on BSE after raising platform fees to Rs 6 per order in major markets like Bengaluru and Delhi. The firm, along with Swiggy, initially charged Rs 2 per order last year, later increasing it to Rs 5 in select markets. The recent price hike represents an increase of 20% from the Rs 5 the two platforms were previously charging in these markets.
Refund for booked event ticket: Now Zomato allows you to sell your ticket, will other event booking platforms follow?
Zomato Feeding India concert: Feeding India Concert with Dua Lipa tickets can be sold on Zomato at a higher or lower price depending upon the demand for such tickets. Read below to find out how this works and whether other event ticket plaforms like BookMyShow, etc follow this trend or not.
Axis Securities initiates coverage on Zomato, sees upside potential of 22%
Axis Securities said that it is confident that Zomato's growth in the sector is backed by steady profitability improvements and significant loss reductions in the Hyper pure and quick commerce domains.
Zomato upsets BookMyShow-KKR deal; BigBasket's FY24 report
Zomato’s entry into the entertainment space has cast a cloud over KKR’s investment in BookMyShow. This and more in today’s ETtech Top 5.
Should investors buy OMC stocks? Sandip Sabharwal answers
So, I think there is less interest in this stock, but I am sure that if they go and do OFS in many other stocks, then I think there will be more interest.
Pankaj Pandey on why weakness in energy stocks may signal buying opportunities
Actually there is not much of a comparison to do because SpiceJet we know is struggling. So, from that perspective, I think InterGlobe becomes the obvious choice. And overall number of players are expected to keep on growing. And with crude being softer, InterGlobe obviously tends to benefit from this.
Zomato's big Paytm play puts a spanner in KKR-BookMyShow deal
KKR is talking to BookMyShow, India's largest online ticket-booking platform, to rejig the details of the $250-300 million investment it was planning for a minority stake. Zomato recently bought Paytm's live ticketing business in a deal valued at over Rs 2,000 crore.
Swiggy operating revenue jumps 36% in FY24, losses down 44%
According to the food and grocery delivery company, the rise in revenue is driven by higher commissions and advertising fees, user fees, and incremental revenue from ticket sales for events. Integrating Dineout with the Swiggy app also helped.
Deepinder Goyal becomes India's newest billionaire after Zomato's multibagger rally
The 41-year-old Goyal, who studied Mathematics and Computing at IIT Delhi, owns about 36.95 crore shares in Zomato. The new-age stock zoomed over 4% in Monday's session, on the back of an increase in platform fee, to a fresh all-time high of Rs 232.
3 PSU bank stocks may find hot seats in Nifty Bank, Junior Nifty
If Canara Bank shares are included in the banking index, the announcement of which is expected later on in the month from NSE Indices, it could lead to passive inflows worth about $45 million in the PSU bank stock.
Diljit Dosanjh faces legal notice over alleged ticket price manipulation ahead of 'Dil-Luminati India tour'
Diljit Dosanjh has received a legal notice from a fan, Riddhima Kapoor, over alleged malpractices in ticket sales for his Dil-Luminati India tour. Riddhima claims the organisers manipulated ticket availability, leading to scalping and inflated prices. The legal notice also involves Zomato, HDFC Bank, and Saregama Pvt Ltd.
Deepinder Goyal becomes India's newest billionaire after Zomato's multibagger rally
Zomato co-founder and CEO Deepinder Goyal, who left an MNC job to start the food delivery platform in 2008, has joined India's growing but elite club of billionaires. The surge in the entrepreneur's net worth comes from a 4.2% stake in Zomato, the shares of which have grown over 300% in just two years. Watch!Deepinder Goyal becomes India's newest billionaire after Zomato's multibagger rally
Govt’s queries on q-comm; Piyush Goyal at The ET Startup Awards ceremony
The government is attempting to understand the ownership structures of foreign-funded quick commerce firms and their dark stores. This and more in today’s ETtech Morning Dispatch.
E2E Networks is the talk of the town as AI frenzy takes hold
E2E Networks, an AI cloud service provider, is getting unprecedented attention. Notably, E2E Networks was the first to introduce cloud-based graphics processing units (GPUs) in India in 2018, a bold move that gave it a head start in the market.
Government to quick commerce: throw more light on dark store ownership structures
The government has shot off queries to senior ecommerce executives to understand the ownership structures of quick commerce firms and their dark stores. The chief executive of one of the top three quick commerce firms told us that he recently briefed commerce and industry minister Piyush Goyal and his team on the nature of investors in the firm and its long-term plans.
ET Startup Awards 2024: Union minister Piyush Goyal to grace tenth edition of awards
Union minister Piyush Goyal's first interaction with startup industry leaders at the ceremony post removal of the so-called 'Angel Tax' is expected to provide insights into the government's push to further support the new-age economy which has seen several companies go public this year.
Blinkit seeing growth in smaller cities: Zomato CFO Akshant Goyal
Zomato's quick commerce platform, Blinkit, is expanding into smaller cities while continuing its focus on large metropolitan areas. Quick commerce platform’s growth in FY24 was primarily on account of addition of dark stores and products, Zomato chairman said.
