Latest news with #DeepinderGoyal
&w=3840&q=100)
Business Standard
14 hours ago
- Business
- Business Standard
Eternal up 2% on heavy volumes; Morgan Stanley maintains overweight rating
Eternal share price: Food aggregator Eternal, formerly known as Zomato, shares rose as much as 1.92 per cent to hit an intraday high of ₹245.95 per share on Tuesday, June 3, 2025. However, at 11:30 AM, Eternal shares were trading 0.75 per cent lower at ₹239.50 per share. In comparison, BSE Sensex was trading 0.46 per cent lower at 80,998.58 levels. Triggers behind the uptick in Eternal share price Eternal's share price surged in trade today, driven by strong volumes and a bullish outlook from Morgan Stanley. By 11:30 AM, trading activity was robust, with 10.95 million shares changing hands on the BSE worth ₹266.99 crore. On the NSE, volume was even higher, with 40.59 million shares traded worth ₹985.60 crore. Another major catalyst for the rally was Morgan Stanley reiterating its 'Overweight' rating on the stock, maintaining a target price of ₹320 per share. The brokerage also reaffirmed Eternal as its top pick, citing the company's market leadership in both food delivery and quick commerce segments, as well as a favourable risk-reward profile. Also Read: Eternal Q4 results Eternal's consolidated profit dropped 77.7 per cent year-on-year (Y-o-Y) to ₹39 crore in the March quarter of financial year 2025 (Q4FY25), from ₹175 crore in the March quarter of financial year 2024 (Q4FY24). The revenue from operations, also known as topline, climbed 63.8 per cent Y-o-Y to ₹5,833 crore in Q4FY25, from ₹3,562 crore a year ago (Q4FY24). At the operating level, earnings before interest tax depreciation and amortisation (Ebitda) dropped 16.3 per cent annually to ₹72 crore in Q4FY25, from ₹86 crore in the same quarter a year ago. About Eternal Eternal (formerly known as Zomato) is a leading global food-tech platform that connects users with a wide range of restaurant services, including restaurant discovery, online food ordering, and table reservations. Founded in 2008 by Deepinder Goyal and Pankaj Chaddah under the name Foodiebay, the company was later rebranded as Zomato (now Eternal). It began by offering restaurant listings and menu information, gradually evolving into a comprehensive platform catering to various aspects of the food and dining industry. Over the years, Zomato has expanded its services to include food delivery, grocery delivery, and other related verticals.
Hindustan Times
3 days ago
- Automotive
- Hindustan Times
Check out the new Aston Martin DB12 Volante Palm Beach edition serving looks in ‘Frosted Glass Blue'
The Palm Beach Edition of the Aston Martin DB12 Volante has been created in collaboration with the brand's customisation arm called 'Q'. Check Offers Aston Martin Palm Beach, in collaboration with the brand's bespoke division Q by Aston Martin, has revealed a unique version of the DB12 Volante, designed to reflect themes inspired by the Palm Beach region. Aston Martin DB12 Volante Palm Beach Edition: Exterior This special edition DB12 Volante features a Frosted Glass Blue exterior, a Q-exclusive paint that uses fine glass flakes in the topcoat to produce a shimmering effect. Due to the complexity of the finish, it can only be applied by hand. The vehicle also includes Club Sport White pinstripes along the front splitter, side sills, and rear bumper and rides on Gloss Jet Black diamond-turned wheels. Exterior details such as aluminium side strakes also reference the palm motif. Also Read : Zomato CEO Deepinder Goyal buys India's first Aston Martin DB12 worth ₹ 4.59 crore Aston Martin DB12 Volante Palm Beach Edition: Interior Inside, the car adopts a nautical-themed duotone leather interior in Aurora Blue and Ivory, accented with Spicy Red stitching. A recurring palm-leaf motif appears throughout the cabin, including on the seat embroidery, centre armrest, and door sills. The dashboard features Palm Beach's geographic coordinates, while open-pore Linear Light Olive Ash wood trim was selected to resemble the texture of palm wood. Metal inlays on the seat backs are engraved with the words 'Palm Beach.' The interior features light shades along with premium wooden finishing, Pedro Mota, Regional President of Aston Martin The Americas, said the collaboration highlights the design flexibility offered by the Q by Aston Martin service. 'We have created an exceptional sports car that merges performance, artistry and luxury," Mota stated. Q by Aston Martin specialises in tailor-made commissions, offering clients a wide range of customisation options—from colour schemes to unique interior detailing. The Palm Beach Edition is one example of how local identity and personal preferences can shape the final design. While the car remains a one-off project, it reflects the growing trend of ultra-personalised vehicles among high-end manufacturers, especially in markets like South Florida, where luxury cars are often seen as extensions of individual style. Aston Martin DB12 Volante Palm Beach Edition: Engine and performance The engine inside is the same, AMG-sourced 4-litre V8 unit with a twin-turbo producing 662 bhp of power and 800 Nm of peak torque. This power is channelled to the rear axle through an eight-speed ZF automatic transmission, assisted by an electronic rear differential. It can achieve an acceleration of 0-100 kmph in just 3.7 seconds, trailing the coupe by only 0.1 seconds. It gets a top speed of 325 kmph. Check out Upcoming Cars in India 2024, Best SUVs in India. First Published Date: 31 May 2025, 15:30 PM IST
&w=3840&q=100)
Business Standard
23-05-2025
- Business
- Business Standard
Zepto pays ₹95 crore in April salaries, rivals Swiggy on employee costs
Quick commerce platform Zepto disbursed ₹95 crore in salaries to its 3,000-strong workforce in April, according to a report by Moneycontrol. This figure, though lower than the ₹115-120 crore reported in March and ₹105-110 crore in January and February, reflects the company's growing fixed costs. The increase in employee expenses highlights Zepto's aggressive hiring and compensation strategy. The report said that the company often offers salaries 2-3 times the industry average to attract top-tier talent. The March salary spike was partly attributed to the company's relocation of employees from Mumbai to Bengaluru and the associated expenses of moving into a new office. April's payout suggests a return to baseline levels. High wage bills draw industry attention The scale of Zepto's salary bill has drawn comparisons with established competitors. 'Zepto's employee costs of about ₹100 crore is already 80 per cent of what Swiggy pays out, despite the latter being a much larger organisation,' a source said, as quoted by the report. Facing off against industry majors Zepto competes with Blinkit and Swiggy Instamart in the grocery and essentials delivery segment. The firm has also entered the food and beverages space through Zepto Cafe, where it competes with Eternal (formerly Zomato) and Swiggy. Eternal, which rebranded from Zomato and operates a wider array of services including Blinkit, has over 5,000 employees and pays out ₹160-170 crore in monthly wages. 'Zomato has over 5,000 employees and pays around ₹160-170 crore in wages each month but Zepto, which is at a much smaller scale, paid ₹100 crore,' a source said, as quoted by the report. Cash burn concerns and industry scrutiny Last year, Zepto was reportedly burning ₹250-300 crore monthly, raising eyebrows among rivals. Eternal's co-founder Deepinder Goyal claimed in March that quick commerce players were collectively burning ₹5,000 crore per quarter, with Zepto allegedly responsible for more than half. Zepto CEO Aadit Palicha dismissed these claims as 'verifiably untrue'. With Blinkit, Swiggy Instamart, and Zepto locked in fierce competition, companies are increasing compensation packages, ESOPs, and incentives to attract top performers. Talent is also being poached from giants like Flipkart and Amazon as these firms race to expand rapidly. In this high-stakes battle, swelling salary bills have become the new norm. Firm launches 'Zepto Atom' Zepto Atom will be accessible via a standalone website and mobile application, and is positioned as a comprehensive tool for businesses seeking to enhance their understanding of customer preferences and improve performance on the platform. The platform will enable brands to access data such as pin code-wise market share, allowing for hyperlocal insights into how products are performing in specific areas.
Time of India
23-05-2025
- Business
- Time of India
How Swiggy and Zomato are dealing with the slowdown in food delivery
The food delivery market in India, dominated by Zomato and Swiggy , is experiencing a slowdown. The rise of quick commerce and limited discretionary spending are among the reasons for the sluggish demand environment. In such a situation, both companies are undertaking measures to address the tepid demand in food delivery. Zomato Food delivery stayed in the slow lane for Zomato in the March quarter. Parent Eternal reported a steep 78% year-on-year (YoY) fall in net profit to Rs 39 crore, as losses from its quick commerce arm Blinkit continued to burden the bottomline. Food delivery, still Eternal's largest business grew slowly and CEO Deepinder Goyal attributed this to weak discretionary spends and the rising influence of quick commerce on both operations and demand. Zomato has taken multiple steps to address the slowdown: Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories No more quick: Eternal shut down its 15-minute food delivery service Quick and homely meals segment Everyday, as both services failed to muster enough demand. Current restaurant density and kitchen infrastructure are not conducive to 10-minute food delivery, which leads to inconsistent customer experience, Goyal said. Push for Bistro: The company will promote Blinkit's Bistro , which competes with the likes of Zepto Cafe. The service, which operates via in-house kitchens, is being expanded across Delhi-NCR, Bengaluru, and Mumbai. Bistro now runs more than 100 kitchens in these markets. Rain fee waiver ends: In a recent update, Zomato revealed a new 'rain fee' that will now apply even to its Gold subscription members. Previously exempt, these premium users will now face an extra charge for deliveries during inclement weather. Swiggy's strategy In the March quarter, Swiggy saw its net loss almost double to Rs 1,081 crore , due to the aggressive expansion of its quick commerce network, which added nearly four dark stores per day. The broader slowdown did not spare Swiggy , and saw its food delivery business grow 17.6% YoY in terms of GOV — the lower end of its 18-22% growth guidance. However, this was faster than Zomato's 16% on-year growth in GOV in the same segment. Here's what Swiggy is doing: Bolt expansion: Swiggy is focussing on its quick food delivery offering, Bolt, where it aggregates restaurants for 10-15-minute order fulfilment. It said that during the quarter, Bolt contributed 12% to the company's overall food delivery volumes. It has expanded to 500 cities. New products: Swiggy introduced a new feature called 'Drops' , offering customers access to exclusive, limited-edition dishes created by some of the country's leading chefs. This feature offers a dual benefit: For customers, it provides early access to experimental and innovative dishes; for Swiggy's restaurant partners, it serves as a platform to test new offerings and cultivate deeper customer loyalty. Swiggy also launched an exclusive discount programme for students, which allows them to subscribe to Swiggy One and One Lite programmes at a discounted rate.
Mint
20-05-2025
- Business
- Mint
These 5 Nifty stocks are racing ahead. What's fuelling the growth?
The NSE Nifty index, more popularly known as the Nifty, is a widely followed stock market benchmark in India and abroad. Launched in 1996 with an initial base value of 1,000, the index comprises some of India's top companies across diverse sectors including banking, IT, retail, telecom, oil and gas, and automotive. Several prominent companies form part of the Nifty. From these, we have selected five companies that are experiencing rapid revenue growth. These stocks were filtered using Equitymaster's company screener. #1 Jio Financial Services First on the list is Jio Financial Services, part of Mukesh Ambani's Reliance group. The stock was included in the NSE Nifty this March, replacing Britannia Industries due to its superior market capitalization and liquidity. Jio Financial Services operates through subsidiaries including Jio Finance, Jio Insurance, and Jio Payments Bank. The company recently entered a joint venture with BlackRock to enter the asset management business. Jio Financial has witnessed strong income growth with a nearly 87% CAGR over the past three years. For FY25, assets under management (AUM) surged to ₹100.5 billion as of March 2025, up from ₹1.73 billion in March 2024 and ₹42 billion in December 2024. Looking ahead, Jio Financial expects robust growth driven by a range of innovative financial products and services. It is expanding its distribution reach across both digital and physical channels. The company's digital ecosystem has been further strengthened by integrating its offerings into the MyJio app. To support future growth and scale its diverse businesses, Jio Financial has infused additional equity of ₹13.4 billion into group entities, including Jio Finance, Jio Payments Bank, and the joint ventures with BlackRock for asset and wealth management. With strong backing and diversified offerings, the company is well positioned for growth in the coming years. #2 Eternal (formerly Zomato) Second is Eternal, formerly known as Zomato, which operates in the quick commerce and food delivery sectors. Like Jio Financial, Eternal was added to the NSE Nifty index in March. Read this | Nifty reshuffle: Zomato and Jio Financial could edge out Britannia and BPCL in India's benchmark index The company has recorded a compounded annual sales growth rate of 82.5% over the last three years. While it reported losses in the early years, Eternal has recently turned a corner. In Q4FY25, revenue from operations surged 63.75% year-on-year (YoY) to ₹58.33 billion. However, despite strong top-line growth, net profit declined sharply by 78% YoY to ₹390 million, down from ₹1,750 million in the same quarter last year. Going forward, Eternal plans rapid expansion through quick commerce store growth. It added 294 new stores in Q4 FY25 alone, bringing the total to 1,301 stores, with a target of about 2,000 stores within 6 to 9 months. Eternal's CEO Deepinder Goyal has taken direct control of the food delivery business to drive turnaround and accelerate growth. Challenges remain, including making Blinkit profitable and maintaining execution capabilities amid rapid expansion. #3 Trent Third on the list is Trent, a retail company under the Tata group. Trent operates retail chains like Westside, Zudio, Star Bazaar, and Landmark, spanning multiple formats across fashion, lifestyle, groceries, and entertainment. The company has posted a sales CAGR of 63% over the last three years, growing from ₹31,825 million in FY20 to ₹114,162 million in FY24. However, its net profit declined sharply for the quarter ending March 2025. Consolidated net profit for Q4FY25 was ₹3.18 billion, down 55% YoY from ₹7.04 billion in Q4FY24. It is important to note that the base quarter (Q4FY24) included an exceptional gain of ₹5.43 billion, which partly explains the decline in net profit. Despite this, Q4FY25 results showed strong revenue growth driven by store expansion and brand strength, especially in Zudio and Westside. Profitability was pressured by higher expenses and discounting. Read this | Zudio, Trent's greatest strength, may also be its biggest weakness The company is investing aggressively in growth, which is weighing on short-term profits but strengthening its long-term market positioning. #4 Indian Oil Corp Next is Indian Oil Corp. (IOC), India's largest oil marketing company, owned by the Government of India. IOC operates across the entire hydrocarbon value chain, including refining, pipeline transportation, petroleum product marketing, exploration, production, and petrochemicals. IOC's sales have grown at a CAGR of 44% over the last three years. In Q4 FY25, IOC's revenue from operations stood at ₹2,213.60 billion, slightly down 1% YoY. The company reported a consolidated net profit of ₹81.24 billion for Q4 FY25, a 58% YoY increase, driven by improved refining margins and cost efficiencies. Over the next few years, IOC plans significant capacity expansions at its Panipat, Vadodara, and Barauni refineries, aiming to increase total refining capacity from about 70 million metric tonnes per annum (MMTPA) to 88 MMTPA by 2030. On the petrochemicals front, it plans to triple its capacity. Volatile crude oil prices may impact profitability going forward. #5 Adani Enterprises Finally, Adani Enterprises, the flagship company of the Adani Group, operates across sectors such as mining and trading of coal and iron ore, airport operations, edible oils, road, rail and water infrastructure, data centers, solar PV manufacturing, and agri-output storage. Sales have grown at a CAGR of over 34% in the past three years. In Q4 FY25, consolidated revenue from operations declined 8% YoY to ₹269.66 billion from ₹291.80 billion in Q4 FY24. However, consolidated net profit surged to ₹38.45 billion in Q4 FY25, compared to ₹4.51 billion in Q4 FY24. Adani Enterprises plans to grow its portfolio across infrastructure, energy transition (including green hydrogen and renewables), airports, data centres, roads, and mining services. Conclusion While past growth rates provide useful context, they should be supplemented with analysis of volatility, scale, industry conditions, and company fundamentals to form realistic expectations about future performance and valuation. Relying solely on past growth can lead to overly optimistic assumptions that overlook risks, market saturation, or changes in company strategy. Growth often slows as companies mature, so it's important to evaluate all aspects before investing. Investors should consider fundamentals, corporate governance, and stock valuations as key factors when conducting due diligence before making investment decisions. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
