Latest news with #Eternal
Economic Times
a day ago
- Business
- Economic Times
Rs 3,100 crore mutual fund battle: Why MFs are ditching Zomato for Swiggy
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Zomato vs Swiggy What should investors do? Tired of too many ads? Remove Ads While retail investors may have taken a fancy for both the new-age stocks, mutual funds were seen dumping shares of soaring Zomato 's parent Eternal while aggressively accumulating its rival Swiggy , even as the food delivery war intensifies and one stock rockets to fresh highs while the other struggles to move as Eternal shares surged 17% in July and touched a fresh 52-week high of Rs 319.80 on BSE last Friday, mutual funds were busy booking profits worth an estimated Rs 1,700 crore last month by offloading 5.4 crore shares, according to data from Prime Database and Nuvama Meanwhile, they poured Rs 1,400 crore into Swiggy, snapping up 3.43 crore shares of the stock that's down over 26% contrarian bet appears to be a classic case of buying the dip and selling the rip. While Eternal has delivered a stellar 14% return year-to-date and hit fresh peaks, fund managers seem to believe the rally has run its course. Conversely, Swiggy's brutal 26% decline appears to have created a buying opportunity that institutional investors can't Prudential Mutual Fund led the Zomato exodus with Rs 810 crore in sales, closely followed by Mirae Asset's Rs 820 crore disposal. Other major sellers included Kotak and SBI Mutual Fund. However, not all funds joined the selling spree. Axis Mutual Fund bucked the trend with Rs 375 crore in purchases, alongside Motilal Oswal and the Swiggy front, the buying brigade was led by Mirae Asset, HDFC, SBI MF , Bandhan, and timing couldn't be more telling. Eternal's 17% July surge came after a robust 21% rally in June, suggesting fund managers are taking profits after a strong run. Meanwhile, Swiggy managed just a 1% gain in July despite the heavy institutional buying, highlighting the stock's current Sachs remains bullish on Zomato, raising its 12-month target price to Rs 340 from Rs 330 and reiterating a Buy rating with 25% potential upside. The investment bank raised its FY26E-30E revenue estimates by up to 11%, driven by strong demand trends in quick commerce."On the back of 1QFY26 results, our food delivery GOV/revenue estimates are higher by 1-2%. We raise our FY26E-FY30E quick commerce GOV estimates by up to 9% due to strong demand trends," Goldman Sachs has turned even more optimistic, upgrading Eternal to Buy after earlier concerns about competition proved "unfounded." The brokerage highlighted management's significantly positive commentary, especially on quick commerce."Progress in Q/C suggests that our concerns on competition, which led to the d/g in Jan-25, were unfounded; we now u/g to BUY," Jefferies Swiggy, the Street sees a turnaround brewing. Jefferies upgraded the stock to Buy, noting that "Q1 profitability marked the trough" and expecting easing competition ahead."With a pause on dark store expansion in ST and easing in competition (JEF view), Q1 profitability marked the trough. Swiggy however remains prone to high volatility due to a low margin base," the brokerage Stanley has "lowered projections of consolidated adjusted EBITDA losses for F26-28" while HSBC values the entire Swiggy business at $11.4 billion or Rs 430 per share, with the food delivery business alone worth $8 billion.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
a day ago
- Business
- Time of India
Rs 3,100 crore mutual fund battle: Why MFs are ditching Zomato for Swiggy
While retail investors may have taken a fancy for both the new-age stocks, mutual funds were seen dumping shares of soaring Zomato 's parent Eternal while aggressively accumulating its rival Swiggy , even as the food delivery war intensifies and one stock rockets to fresh highs while the other struggles to move ahead. Even as Eternal shares surged 17% in July and touched a fresh 52-week high of Rs 319.80 on BSE last Friday, mutual funds were busy booking profits worth an estimated Rs 1,700 crore last month by offloading 5.4 crore shares, according to data from Prime Database and Nuvama . Meanwhile, they poured Rs 1,400 crore into Swiggy, snapping up 3.43 crore shares of the stock that's down over 26% year-to-date. The contrarian bet appears to be a classic case of buying the dip and selling the rip. While Eternal has delivered a stellar 14% return year-to-date and hit fresh peaks, fund managers seem to believe the rally has run its course. Conversely, Swiggy's brutal 26% decline appears to have created a buying opportunity that institutional investors can't resist. Also Read | Rich investors follow sell-on-rise mantra in Swiggy, 10 other stocks. Are you still buying? Live Events Zomato vs Swiggy ICICI Prudential Mutual Fund led the Zomato exodus with Rs 810 crore in sales, closely followed by Mirae Asset's Rs 820 crore disposal. Other major sellers included Kotak and SBI Mutual Fund. However, not all funds joined the selling spree. Axis Mutual Fund bucked the trend with Rs 375 crore in purchases, alongside Motilal Oswal and HDFC. On the Swiggy front, the buying brigade was led by Mirae Asset, HDFC, SBI MF , Bandhan, and Invesco. The timing couldn't be more telling. Eternal's 17% July surge came after a robust 21% rally in June, suggesting fund managers are taking profits after a strong run. Meanwhile, Swiggy managed just a 1% gain in July despite the heavy institutional buying, highlighting the stock's current struggles. Also Read | Swiggy vs Eternal: Which stock promises better value delivery post Q1 show? What should investors do? Goldman Sachs remains bullish on Zomato, raising its 12-month target price to Rs 340 from Rs 330 and reiterating a Buy rating with 25% potential upside. The investment bank raised its FY26E-30E revenue estimates by up to 11%, driven by strong demand trends in quick commerce. "On the back of 1QFY26 results, our food delivery GOV/revenue estimates are higher by 1-2%. We raise our FY26E-FY30E quick commerce GOV estimates by up to 9% due to strong demand trends," Goldman Sachs noted. Jefferies has turned even more optimistic, upgrading Eternal to Buy after earlier concerns about competition proved "unfounded." The brokerage highlighted management's significantly positive commentary, especially on quick commerce. "Progress in Q/C suggests that our concerns on competition, which led to the d/g in Jan-25, were unfounded; we now u/g to BUY," Jefferies said. For Swiggy, the Street sees a turnaround brewing. Jefferies upgraded the stock to Buy, noting that "Q1 profitability marked the trough" and expecting easing competition ahead. "With a pause on dark store expansion in ST and easing in competition (JEF view), Q1 profitability marked the trough. Swiggy however remains prone to high volatility due to a low margin base," the brokerage cautioned. Morgan Stanley has "lowered projections of consolidated adjusted EBITDA losses for F26-28" while HSBC values the entire Swiggy business at $11.4 billion or Rs 430 per share, with the food delivery business alone worth $8 billion. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Yahoo
3 days ago
- Business
- Yahoo
Alibaba to Exit Indian Food Delivery Company Eternal with $613M Stake Sale
Alibaba Group Holding Limited (NYSE:BABA) is one of the best high-volume stocks to invest in. On August 6, it was reported that China's Alibaba Group would be selling its entire stake in the Indian company Eternal through a block deal. According to a CNBC-Awaaz report, the deal is valued at 53.75 billion Indian rupees, which is ~$613 million. The block deal involves Alibaba's unit, called Antfin Singapore, which held a 2.08% stake in Eternal as of the end of June this year. An e-commerce platform displaying a wide range of products to customers online. The company will offload this entire stake at a floor price of 285 rupees per share, which represents a 4.6% discount to Eternal's closing price on August 6. Eternal is the parent company of the food delivery service Zomato and the quick commerce arm Blinkit. Neither Antfin nor Eternal has responded to requests for comment from Reuters. Alibaba Group Holding Limited (NYSE:BABA) provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses engage with their users and customers in the People's Republic of China and internationally. While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
3 days ago
- Business
- Time of India
From Paytm to Eternal: 42 stocks where India's top performing PMS fund managers are betting on
India's sharpest money managers are placing bold bets on the market's most exciting new-age darlings and forgotten gems. The country's top 10 performing Portfolio Management Services (PMS) scheme in July made concentrated plays on everything from fintech unicorns to healthcare disruptors and speciality chemicals, shows data from PMS Bazaar. Here's where the smart money is flowing. InCred Asset Management - Healthcare Portfolio: Leading the Pack with 11.96% Returns The month's standout performer, InCred's Healthcare Portfolio, is doubling down on India's medical revolution with a 19.81% allocation to Healthcare Global Enterprises, the country's largest cancer care network. The fund's conviction play extends to diagnostics powerhouse Thyrocare Technologies (17.35%) and emerging player Krsnaa Diagnostics (11.62%). The healthcare-focused strategy also holds Jubilant Pharmova (10.04%) and RPG Life Sciences (6.81%), positioning itself to capitalise on India's growing healthcare infrastructure and rising medical tourism. Also Read | 7 multibagger stocks that FIIs are hoarding in 2025. Are you missing out? Valcreate's Digital Disruption Strategy: Betting Big on Fintech Giants Valcreate Investment Managers' IME Digital Disruption fund (up 6.34%) is making audacious bets on India's digital economy transformation. The fund has loaded up 22% in Eternal, followed by massive positions in fintech heavyweight One 97 Communications - Paytm (19.30%) and insurance aggregator PB Fintech (19.20%). The digital thesis extends to FSN E-Commerce Ventures - Nykaa (11.40%) and food delivery giant Swiggy (7.10%), capturing the entire new-age commerce ecosystem that's reshaping Indian consumer behaviour. Valcreate's Lifesciences Portfolio: Riding the Agrochemicals Wave Another Valcreate strategy making waves is their Lifesciences and Specialty Opportunities fund (8.48% returns), which has positioned itself as the go-to agrochemicals play. Leading the charge is Sharda Cropchem , with a commanding 15.85% weight, backed by pharma giant Divi's Laboratories (9.33%). The fund's agrochemical conviction deepens with Sumitomo Chemical India (8.08%), Dhanuka Agritech (7.49%), and Rallis India (7.31%), betting on India's agricultural modernisation and crop protection needs. Green Portfolio's MNC Advantage: Industrial Excellence Focus Green Portfolio's MNC Advantage fund (6.89% returns) is zeroing in on India's industrial backbone through multinational subsidiaries. KSB leads the portfolio at 12.68%, followed by engineering specialist Integra Engineering India (10.21%) and auto components player Federal-Mogul Goetze (9.42%). The strategy includes John Cockerill India (6.16%) and premium engineering brand Bosch (5.56%), capitalising on India's manufacturing renaissance and infrastructure buildout. Emkay's Pearls Strategy: Diversified Mid-Cap Play Emkay Investment Managers' Pearls fund (4.20% returns) mirrors the digital disruption theme with Eternal as its top holding (16.30%), while maintaining pharmaceutical exposure through Divi's Laboratories (9.70%). The fund balances growth with stability through Nesco (8.80%), Federal Bank (7.10%), and auto ancillary Sundram Fasteners (7.10%). Ambit's Micro Marvels: Small-Cap Specialisation Ambit Investment Advisors' Micro Marvels Portfolio (4.27% returns) is hunting for tomorrow's champions in India's small-cap universe. The fund spreads its bets across Rajratan Global Wire (7.00%), staffing services leader Teamlease Services (6.50%), and industrial plays Menon Bearings, Entero Healthcare Solutions, and Thejo Engineering (6.00% each). Wryght Research Factor Fund: Contrarian Fintech Bet The Factor Fund from Wryght Research (2.69% returns) demonstrates conviction in fintech recovery with One 97 Communications as its largest holding (7.73%). The fund diversifies across Hitachi Energy India (5.68%), Maharashtra Scooters (5.38%), fertiliser player Paradeep Phosphates (5.19%), and financial conglomerate Bajaj Holdings & Investment (4.91%). Valcreate's Growing India: Chemical Sector Concentration The Growing India fund (2.84% returns) maintains Valcreate's chemical sector thesis with Divi's Laboratories leading at 7.65%, supported by Sharda Cropchem (7.48%) and Rallis India (6.54%). The fund also holds Swaraj Engines (6.32%) and Sumitomo Chemical India (5.82%). Shade Capital Value Fund: Value Hunting Across Caps Shade Capital's Value Fund (2.87% returns) is pursuing deep value opportunities across industrial names like Kilburn Engineering (4.33%), TD Power Systems (4.15%), and wealth manager Nuvama Wealth Management (3.94%). The fund also holds infrastructure play Transrail Lighting (3.71%) and building materials company Interarch Building Products (3.36%). Brightseeds Xylem Maverick: Cash-Heavy Cautious Approach The most conservative among the top performers, Brightseeds' Xylem Maverick Strategy (2.55% returns) holds a massive 47.29% in Zerodha Nifty 1D Rate Liquid ETF & Cash, suggesting a defensive stance. When invested, the fund focuses on agrochemicals through Dharmaj Crop Guard (8.56%), Sudarshan Chemical Industries (7.00%), renewable energy via Borosil Renewables (6.37%), and steel tubes specialist Scoda Tubes (5.49%). Also Read | Share prices rise after you sell? Data from 967 retail-sold stocks confirms your worst fear The positioning of India's top PMS performers reveals a clear trend: smart money is flowing into digital disruption stories, speciality chemicals, healthcare infrastructure, and industrial champions. With 42 distinct stock ideas ranging from established pharma giants to fintech unicorns, these fund managers are positioning for India's next growth phase while maintaining selective exposure across market caps and sectors. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Hans India
4 days ago
- Business
- Hans India
Lacklustre session as investors stay on sidelines
Mumbai: Benchmark stock indices Sensex and Nifty ended flat in a highly volatile trade on Thursday as investors turned cautious ahead of the US-Russia talks on August 15. Extending gains to the second day, the 30-share BSE Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. During the day, it rallied 211.27 points or 0.26 per cent to 80,751.18. The 50-share NSE Nifty rose by 11.95 points or 0.05 per cent to 24,631.30. Among Sensex firms, Eternal, Infosys, Asian Paints, HDFC Bank, Bajaj Finserv and Titan were the major gainers. However, Tata Steel, Tech Mahindra, Adani Ports and Bharat Electronics were among the laggards. The Trump-Putin meeting could have significant implications for energy markets, potentially leading to an easing of sanctions against Moscow. 'After a volatile weekly expiry-day session, Indian equities ended flat as investors traded cautiously ahead of the US-Russia summit. IT and pharma stocks advanced on the back of a softer US inflation data and dovish outlook. Banking and consumer durables also gained on hopes of a consumption-led recovery,' Vinod Nair, Head of Research, Geojit Investments Ltd, said.
