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Zomato shares dip 6% despite Q4 FY24 profit surge
Despite recording increased profits quarter-on-quarter for Q4 FY24, Zomato shares declined by 6% to INR 182.10 on Tuesday (May 14th).By 12:20 PM, Zomato's trading...
Bernstein raises Zomato’s price target to INR 230, upholds ‘OUTPERFORM’ rating following strong Q4 results
After reviewing Zomato's Q4 results, brokerage firm Bernstein upheld its "OUTPERFORM" rating for the foodtech company's stock and increased its price target (PT) from...
Zomato seeks shareholder approval for 18.26 Cr employee stock options plan
Zomato, a leading player in the foodtech sector, has sought approval from its shareholders for the formulation, adoption, and implementation of a new employee...
Blinkit’s Q4 FY24 revenue hits INR 769 Crore; loss narrows to INR 37 Crore
Blinkit, Zomato’s quick commerce vertical, achieved positive adjusted EBITDA in March 2024 as it continued to scale up the average order value and volume...
Zomato’s Q4 net profit surges 27% quarter-over-quarter to INR 175 Cr
Zomato, a major player in the foodtech industry saw its consolidated profit after tax (PAT) surge by 26.8% to INR 175 Cr in the...
Quick-commerce platforms race to deliver gold and silver coins in 10 minutes on Akshaya Tritiya
As Akshaya Tritiya festivities sweep across the nation, quick commerce platforms are seizing the opportunity to offer gold and silver coins to users within...
Uber steps up hyperlocal deliveries in India to capture growing quick-commerce market share
As the demand for quick commerce grows in India, ride-hailing platform Uber is intensifying its hyperlocal deliveries from neighborhood stores, according to sources familiar...
Quick commerce sector soars as Millennial and Gen Z homes drive growth
Just two years ago, the idea of quick commerce or instant deliveries was often dismissed with laughter. Some even argued that consumers had no...
E-commerce platforms align with regulations, rebrand ‘health drinks’ as ‘nutrition drinks’
Taking heed of the government's advisory against marketing beverage mixes and drinks like Bournvita, Horlicks, and Boost as "health drinks," a category not officially...
Blinkit more valuable than Zomato’s food delivery business: Goldman Sachs
Hyper-local delivery company Blinkit is now valued higher than Zomato's core food delivery business, as per a recent report by Goldman Sachs. Goldman Sachs...
CCPA asks quick commerce giants for proof of ’10-minute’ delivery claims
The Central Consumer Protection Authority (CCPA) has reportedly directed quick commerce players Blinkit, Swiggy Instamart, Zepto, and Big Basket (BB Now) to provide evidence...
Flipkart taps supply chain head Hemant Badri to spearhead quick commerce expansion
As competition intensifies in the quick commerce space, Flipkart, the ecommerce giant, has tapped its Senior Vice President and Group Head of Supply Chain,...