India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Synopsis: In a strategic move to dominate the on-train ancillary services market, ixigo (Le Travenues Technology) has integrated Swiggy's food delivery network into its platforms, enabling restaurant-quality meal deliveries for rail passengers. Shares of a leading travel technology company came into focus after announcing a major integration with the food delivery giant, Swiggy. The news of this partnership, which aims to transform the dining experience for rail commuters, triggered an 8 percent
New Delhi, Dec 3 (UNI) In its first results post listing, on-demand convenience platform, Swiggy on Tuesday announced a 30 percent growth in Gross Order Value at Rs 11,306 crore for the quarter and half year ended September 30, 2024. Swiggy's overall Gross Order Value (GOV) grew 30 percent YoY to reach Rs 11306 crore, while the consolidated adjusted EBITDA loss of Rs 341 crore represented a reduction in the loss by 30 percent YoY. Platform Average Monthly Transacting Users (MTU) grew 19.2 percent YoY to 17.1M, the company said in a release. Sriharsha Majety, MD & Group CEO, Swiggy, said "The ...Read More >
New Delhi, Dec 31 (IANS) The year 2024 has been historic for Indian startups as the government abolished the angel tax (a tax levied on investing in startups), which improved Indian startups' funding and enabled them to raise more than $12 billion. Along with this, food delivery company Zomato managed to make its place in the Sensex, the index of top companies in the country. Indian startup companies crossed the magical figure of getting $150 billion in funding in 2024. Between 2014 and 2024, new-age tech companies raised more than $151 billion in funding. Startups raised the highest funding ...Read More >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russian oil imports is way less than exaggerated media numbers," brokerage CLSA said in a report. While ...Read More >
At a valuation of ₹3.2 lakh crore, Deepinder Goyal of Eternal (formerly Zomato Ltd) has topped the list of self-made entrepreneur in the IDFC FIRST Private & Hurun India's Top 200 Self-made Entrepreneurs of the Millennia 2025. Eternal's valuation has gone up by 27% from last year's report. Radhakishan Damani of Avenue Supermarts (DMart), last year's No. 1, has slipped to second place with a valuation of ₹3 lakh crore, down 13% from last year. Estranged co-founders Rahul Bhatia and Rakesh Ga ...Read More >
Anshoo Sharma, CEO & cofounder of Magicpin, India's third-largest food delivery platform, told PTI the platform is gearing up for even higher volumes as Diwali approaches. According to Bhakoo, choco lava cakes topped dessert orders across metros, while Kolkata's long-standing love for biryani remained intact. As India revels in the spirit of the festive season, food delivery platforms Swiggy and Magicpin have reported a massive surge in orders, highlighting how culinary cravings are now central ...Read More >
New Delhi: Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to Rs 59 crore. The scrip of the company fell 11.81 per cent to Rs 212.50 apiece on the BSE. On the NSE, shares of Gurugram-headquartered Zomato depreciated by 9.99 per cent to hit its lower circuit level of Rs 215.80 per piece. On Monday, shares of Zomato settled more than 3 per cent lower on the bourses. In two days, the company's market capitalisation (mcap) got eroded by R ...Read More >
PRNewswire Bengaluru (Karnataka) [India], September 26: Swiggy (Swiggy Ltd) (NSE: SWIGGY) (BSE: 544285), India's leading on-demand convenience platform, today announced the rollout of a host of new features for its Food on Train service. On the sidelines of the festive season, Swiggy has launched smarter, more personalized menu choices, bringing an exciting new culinary experience to millions of train travelers across India. They can choose from a range of 'City Best' dishes, a curated list of iconic eateries across stations. In addition to this, Swiggy has also launched Easy Eats that ensure ...Read More >
Bengaluru: Rapido, the company best known for its bike taxi and ride-hailing services, has now entered the food delivery business with a brand-new app called Ownly. The service has been launched in three Bengaluru neighbourhoods -- Koramangala, HSR Layout, and BTM Layout. The new app is being seen as a challenger to Swiggy and Zomato as it promises to deliver food at a price that's up to 15% cheaper than its competition. ...Read More >
Rapido began as a bike-taxi service and has steadily evolved into a comprehensive mobility app. ShowQuick Read Summary is AI-generated, newsroom-reviewed Rapido, known for bike taxis, is expanding into travel bookings, adding hotels, flights, buses, and trains via partnerships with Goibibo, redBus, and ConfirmTkt. The app aims to offer seamless travel for its 50 million users across India Did our AI summary help? Let us know. Switch To Beeps Mode Rapido, India's popular ride-hailing platfo ...Read More >
VMPL New Delhi [India], August 14: Ellenox, India's largest venture studio, is accelerating its global push in enterprise AI development. In the past year, the company has grown its headcount by 50% over the last year, bringing in senior AI talent from Amazon and Google to power its next phase of expansion. Already delivering AI transformation for Fortune 50 leaders in fintech, cloud computing, consumer social, and sports-tech, Ellenox has built systems that replace costly call centers with natural-voice AI agents and deployed end-to-end social media pipelines capable of scaling global brand ...Read More >
Surat (Gujarat) [India], August 21: KP Group, a leading name in India's renewable energy sector, is stepping up its expansion with a clear goal of reaching 10 GW capacity by 2030. With projects already underway in Gujarat, the Group is working on projects in Rajasthan, Madhya Pradesh, Odisha, Andhra Pradesh and Maharashtra, supported by a strong order book and government partnerships. KP Group has signed memoranda of understanding with Gujarat, Odisha, Rajasthan and Madhya Pradesh for over 2.6 GW of renewable projects, while exploring new opportunities in other states. The Group has already e ...Read More >
Quick commerce company Zepto will launch a separate app for Zepto Cafe, its 10-minute food delivery unit, next week, co-founder and CEO Aadit Palicha announced on social media on December 11. While Zepto Cafe will be available through another app, customers will also have an option to shop for coffee, sandwiches and more via the main app. Zepto's move to have two entry points is similar to what Zomato did with Blinkit, the company's quick commerce arm, over a year ago. While Zomato piloted havi ...Read More >
Mumbai: Following a decline for the fourth consecutive day, shares of online food aggregator Swiggy on Friday slipped below its initial public offering (IPO) issue price of Rs 390. Global financial services company Macquarie has remained the biggest bear on the stock with a target price as low as Rs 325. Swiggy's stock has now fallen nearly 40 per cent from its all-time high of Rs 617 which was reported on December 23, 2024. The continuous decline in stock price has also brought Swiggy's total market capitalisation below Rs 90,000 crore, according to latest BSE data. The company's shares w ...Read More >
Mumbai, Feb 7 (VOICE) Following a decline for the fourth consecutive day, shares of online food aggregator Swiggy on Friday slipped below its initial public offering (IPO) issue price of Rs 390.According to market experts, the company's shares are dropping due to investors' reaction to the company's higher-than-expected losses in the third quarter (Q3 FY25). After touching a high of Rs 397.65 and a low of Rs 374.8, the stock fell by 2.5 per cent to Rs 379.20 on the BSE during the intra-day trade. Global financial services company Macquarie has remained the biggest bear on the stock with a ta ...Read More >
New Delhi, May 27 (PTI) Quick commerce platform Instamart has dropped parent Swiggy from its name, in a strategic move aimed at carving a standalone brand identity. The move comes days after rival Zomato, which also owns Blinkit, rebranded as Eternal on the stock exchanges, with quick commerce becoming a significant driver for the firms beyond their food delivery businesses. At multiple instances, Swiggy Group CEO Sriharsha Majety has spoken about how the company expects Instamart to surpass food delivery in terms of both penetration and scale. "Integrated within the main Swiggy app, Instam ...Read More >
Bengaluru, July 14 (UNI) In a disturbing incident of road rage, a Swiggy food delivery agent was violently assaulted by three unidentified men near Modi Hospital Junction, under the Basaveshwaranagar police limits, late yesterday night. The assault, which was caught on video and widely circulated online, has raised serious concerns over the safety of delivery personnel operating in India's IT capital. According to police, the delivery agent had stopped his two-wheeler at a red light when a vehicle behind him began honking persistently. Despite his attempt to explain that he was observing the ...Read More >
New Delhi, Sep 24 (PTI) Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges". However, the spokesperson declined to provide details of the IPO size. To assist the public offering, ...Read More >
He's already identified 12 potential menu items. ShowQuick Read Summary is AI-generated, newsroom-reviewed * A Bengaluru man quit his Rs 25 LPA job to work as a food delivery partner. * He aims to start a cloud kitchen by understanding local customer preferences firsthand. * Family and friends expressed concern and mocked him for this unconventional choice. Did our AI summary help? Let us know. Switch To Beeps Mode A Bengaluru man has gone viral for quitting his Rs 25 LPA corporate job t ...Read More >
New Delhi, Jul 1 (PTI) Logistics service provider Shadowfax Technologies has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise Rs 2,000-2,500 crore, industry sources familiar with the development said. The company could be valued at around Rs 8,500 crore, they added. The IPO is a mix of fresh issue and an offer-for-sale (OFS) by existing shareholders. In a public announcement on Tuesday, Shadowfax Technologies said it has "pre-filed draft red herring prospectus with Sebi and the stock exchanges...in relation to the proposed initial publ ...Read More >
New Delhi: These days, Rajesh, who used to be a bike-taxi rider with Rapido, no longer ferries passengers across Bengaluru. With the two-wheeler service being declared illegal, he like other Rapido riders, has switched to food-delivery, a play Rapido is testing with its newly launched Ownly service. "I do this at night while attending college in the morning," Rajesh adds. "I use the same bike -- it's convenient, and the extra cash helps cover my expenses." He is unsure if Rapido will be able to break the Swiggy-Zomato duopoly, which has a stranglehold over the food delivery business. "Who kn ...Read More >
Zomato founder Deepinder Goyal took to X to address what he said was a long-standing concern about the platform's impact on healthy eating. He announced the launch of a feature called Healthy Mode on Zomato, to help users make smarter food choices. Taking to X, Goyal posted, "For years, there's been something about Zomato that made me uneasy. We made eating out and ordering in easier than ever, but we never really helped people truly eat better." While users could find options such as salads or ...Read More >
New Delhi, Jan 21 (PTI) Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to ₹59 crore. The scrip of the company fell 11.81 per cent to ₹212.50 apiece on the BSE. On the NSE, shares of Gurugram-headquartered Zomato depreciated by 9.99 per cent to hit its lower circuit level of ₹215.80 per piece. On Monday, shares of Zomato settled more than 3 per cent lower on the bourses. In two days, the company's market capitalisation (mcap) got erod ...Read More >
Maruti Suzuki Q2 Results: The company's revenue from operations grew 13% YoY to Rs 42,344.20 crore, up from Rs 37,449.20 crore in the corresponding period of the previous financial year. Automaker Maruti Suzuki India on Friday announced its results for the July-September quarter of FY26, reporting a 7.9% year-on-year (YoY) rise in consolidated net profit to Rs 3,349 crore, compared with Rs 3,102.5 crore in the same quarter last year. The company's revenue from operations grew 13% YoY to Rs 42,3 ...Read More >
Swiggy's quick commerce segment also saw remarkable growth, with revenue surging by 135% to Rs 490 crore in Q2 FY25 from Rs 208 crore in Q2 FY24. Foodtech and quick commerce giant Swiggy has managed a 30.3% quarter-on-quarter growth in its operating revenue which spiked to Rs 3,601 crore during Q2 FY25 as compared to Rs 2,763 crore Q2 FY24. This growth was largely driven by the expansion of its quick commerce businesses which grew 135% in the last quarter. Swiggy's food delivery business continues to be a major contributor, accounting for 43.7% of the total collection in Q2 FY25. Revenues fr ...Read More >
Bengaluru (Karnataka) [India], August 28: Swiggy Limited, India leading on-demand convenience platform, is set to redefine dining experiences yet again with the return of its much-anticipated Great Indian Restaurant Festival (GIRF) 2025. Starting August 22, during the entire upcoming festive season of 2 months, food lovers across 50+ cities in India can enjoy up to 50 discount on dining at 20,000+ top restaurants across categories including cafes, pubs, bars, luxury dining, and family dining restaurants. Additionally, HDFC Bank credit card users can avail an extra 10 discount, making every mea ...Read More >
Happy Thursday! International semiconductor companies are vying to cash in on the India opportunity. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ Rapido dishes out Ownly ■ BlueStone IPO closes ■ Startup IPOs' returns Global semiconductor firms reeling from financial pressure are actively exploring strategic partnerships in India, drawn by the country's expanding digital economy and generous government subsidies. Driving the news: India's semiconductor push - ...Read More >
BENGALURU, India, Sept. 26, 2025 /PRNewswire/ -- Swiggy (Swiggy Ltd) (NSE: SWIGGY) (BSE: 544285), India's leading on-demand convenience platform, today announced the rollout of a host of new features for its Food on Train service. On the sidelines of the festive season, Swiggy has launched smarter, more personalized menu choices, bringing an exciting new culinary experience to millions of train travelers across India. They can choose from a range of 'City Best' dishes, a curated list of iconic eateries across stations. In addition to this, Swiggy has also launched Easy Eats that ensures a hass ...Read More >
New Delhi: On-demand convenience platform, Swiggy Instamart, has expanded to 76 cities across the nation, and is now available as a standalone app for download, said the company. "As one of Swiggy's flagship services, Instamart will continue to be accessible via Swiggy's unified platform, where it has delivered rapid growth in the past year. The Instamart app provides users an even more direct experience, offering greater convenience by ensuring quicker access to Swiggy's pioneering quick-commerce service," said company statement. Swiggy said, this is not the company's first foray into stand ...Read More >
New Delhi: Logistics service provider Shadowfax Technologies has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise Rs 2,000-2,500 crore, industry sources familiar with the development said. The company could be valued at around Rs 8,500 crore, they added.The IPO is a mix of fresh issue and an offer-for-sale (OFS) by existing shareholders. In a public announcement on Tuesday, Shadowfax Technologies said it has "pre-filed draft red herring prospectus with Sebi and the stock exchanges...in relation to the proposed initial public offering of ...Read More >
AceVector, the parent company of Snapdeal, plans to launch an IPO. The company has submitted draft papers to Sebi. AceVector also operates Unicommerce and Stellar Brands. Unicommerce became a public company in 2024. AceVector has opted for confidential pre-filing. This allows flexibility in IPO plans. Several other companies have also chosen this route. The pre-filing route offers greater flexibility. AceVector, parent company of e-commerce marketplace Snapdeal, has confidentially filed draft pa ...Read More >