ZOMATO SWIGGY
From Rs 25,000 to Rs 2.5 crore: Three Pune brothers turn college kabada project into goldmine, sold 20 lakh kg scrap
Three Pune brothers have transformed a college project into a Rs 2.5 crore scrap collection business. Jayesh, Ganesh and Vaibhav Pakhale started ScrapDeal in Pune with an initial investment of just Rs 25,000. The startup has recycled 20 lakh kg of scrap, serves over 1 lakh individual customers and works with more than 100 businesses. The brothers are targeting Rs 5 crore in revenue in FY27.
Indian organisations on edge as sites fail to Captcha AI intruders
Personal AI agents such as Instinct, Muse, Grokbot and OpenClaw have taken over the consumer internet in the US. But last month, major US banks, including JPMorgan Chase, Bank of America, Wells Fargo and Morgan Stanley, reportedly flagged AI agents such as Meta’s Muse accessing customer accounts using login credentials voluntarily shared by users laying bare the risks of handing AI agents the keys to consumers’ digital lives.
Diwali rush lifts rapid delivery orders for last-minute shopping, gifting
Platforms such as Blinkit, Zepto, Instamart, Amazon Now and Flipkart Minutes revamped their apps for Diwali, introducing interactive interfaces, gamified rewards and other features to drive consumer engagement and orders.
ETtech Explainer: Food delivery, ride-hailing firms differ on gig worker welfare levy calculation
Food delivery and quick-commerce companies such as Zomato and Swiggy are seeking a levy based on the value of transactions facilitated through their platforms, while cab and bike-taxi aggregators such as Uber and Rapido want it to be calculated on their own turnover rather than the total value of rides facilitated.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
From bikes to billions: Rapido’s gross order value quadruples in two years to $4 billion
The Bengaluru-based company is averaging around 8.3 million orders a day across its services, making it one of India’s largest consumer internet platforms by transaction volumes. Ride-hailing continues to comprise more than 95% of the company’s daily average orders.
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Why Walmart would rather keep Flipkart private, for now
Over the past few weeks, much has been written about former employees of the online commerce company writing to Walmart's board, asking for liquidity on the stock options they were granted 10 to 15 years ago. On October 1, at least eight former senior executives, among them former Myntra CEO Mukesh Bansal and former chief business officer Ankit Nagori, wrote to Walmart chairman Gregory Penner, other board members and Flipkart Group CEO Kalyan Krishnamurthy, seeking a complete exit for all former employees holding vested options.
7 discount, cashback credit cards for online festive shopping in 2026: One of them is lifetime free
Most of us will engage in festive shopping, making credit cards an appealing choice for discounts and cashback offers. But before choosing a card, analyse fees, rewards, and conditions on cashback. Check these 7 credit cards that are offering up to 10% cashback on online shopping, among other offers. These cards also have a low joining fee and one of them is lifetime free.
Eternal vs Swiggy: How the numbers stack up against each other
In the recent quarter, Eternal's Blinkit achieved remarkable success with a net order value of Rs 20,940 crore, drastically outpacing Swiggy's Instamart, which reported Rs 6,553 crore. Meanwhile, Eternal's Zomato saw a healthy growth in net order value by 21.5%, compared to Swiggy's 17.7% increase. Swiggy is set to adopt an inventory model to boost profitability as both companies foresee ongoing growth in their delivery segments.
Swiggy shares crash 14%, hit 52-week low after Q2 results. Here’s why Jefferies, Nomura, Bernstein cut target price
Swiggy Share Price: Swiggy experienced a notable decline in share prices after announcing a Rs 922 crore loss for the quarter. Revenue from operations rose 36% year-on-year to Rs 7,571 crore, indicating some growth potential. However, the company's adjusted EBITDA loss widened, raising concerns among investors regarding its financial health. Analysts have revised target prices downward, citing challenges in the quick commerce segment.
Swiggy’s India ownership shift could lift Instamart margins; Q2 loss widens to Rs 922 crore
Swiggy is transitioning to an India-owned structure to gain greater control over its Instamart operations and improve margins. The company aims to enhance profitability while managing competition from rival services like Blinkit and Zepto. Instamart's contribution margin is projected to improve, and overall growth is anticipated over the coming quarters. Swiggy's core food delivery business remains strong, showing significant growth and profitability.
Swiggy shares slide over 5% ahead of Q2 results. What are analysts saying?
Swiggy shares fell ahead of its Q2 FY27 results as investors assessed its path to profitability. Anand Rathi upgraded the stock to Buy, while rival Eternal reported strong earnings growth, supported by food delivery and quick commerce.
Stocks in news: Reliance Industries, Eternal, Alkem Labs, BEL, HPCL, Swiggy and GMDC
Indian markets witnessed a downturn on Wednesday, prompted by significant selling in banking stocks. After showing initial promise, the Nifty 50 index dropped by 77.60 points to close at 22,811.35. Reliance Industries celebrated a reaffirmation from ICRA concerning its non-convertible debenture program, valued at Rs 12,000 crore. Eternal also reported impressive year-on-year growth in Q2 revenue and net profits.
Want an early signal on the economy and stocks this festive season? Watch 19 stocks, and what their managements say in the next 20 days
There is a set of companies that sees the shape of the economy before economists do. They know when a household decides to spend or hold back; to buy better things or cheaper ones. This festive season, what these companies sell, and what they say about it afterwards, will tell you more about where consumption is headed than any official number. Watch them closely. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
Veeramani trend: Madurai influencer seeks Diwali gifts on Insta, gets non-stop COD parcels of JCB, Rs 1.6 lakh TV, fridge, phone and Rs 70 crore army tank
A request for a box of Deepavali sweets on X reportedly turned into a harassment ordeal for Madurai influencer Veeramani after followers began sending unwanted cash-on-delivery orders to his home. Deliveries reportedly included expensive electronics and food, prompting him to post an emotional appeal asking people to stop. Neighbours later said he had left his residence after repeated visits by delivery personnel.
Restaurants face income tax scrutiny as suspected tax evasion tops Rs 25,000 crore
The income tax department in India has identified significant tax evasion by thousands of restaurants. Approximately 8,000 restaurants showed discrepancies between their earnings and income tax filings over four years. The government aims to improve tax compliance through new measures and data analytics. Authorities previously estimated substantial under-reported income linked to missing sales records. The initiative intends to ensure fair taxation within the restaurant sector moving forward.
The ET Startup Awards 2026 special
Happy Monday! The Economic Times Startup Awards (ETSA) 2026 ceremony brought together the country’s top founders, investors, and policymakers in Bengaluru for a Friday evening of sharp insights and spirited conversations.
ET Startup Awards 2026: Groww expects new businesses to reshape revenue mix as they scale: Lalit Keshre
The Bengaluru-based company was adjudged Startup of the Year at The Economic Times Startup Awards 2026 for scaling rapidly while maintaining profitability. Groww went public in November 2025 and has a market capitalisation of about $13 billion.
Razorpay cofounder Shashank Kumar explains how ChatGPT ads will work in India
Razorpay has teamed up with OpenAI to introduce advertising on ChatGPT for Indian enterprises. This collaboration features well-known brands such as Tanishq, Tata Neu, and Axis Max Life among the initial participants. The ads will be displayed directly beneath the ChatGPT responses, clearly marked as advertisements. Users can conveniently click these ads, redirecting them to shopping pages without affecting the responses generated by ChatGPT.
IPO-bound Razorpay partners with OpenAI to help Indian brands advertise on ChatGPT
Under the partnership, Razorpay Engage, the company's customer engagement and marketing platform, will help brands prepare product catalogues, structure feeds, launch campaigns and track their performance on ChatGPT Ads.
Anthropic's Claude can now process AI requests locally in India through Amazon Bedrock
Anthropic has launched its Claude AI models in India for local processing through Amazon Bedrock. This development addresses data residency concerns for banks, government institutions, and large enterprises. Companies, including TCS and Kotak Bank, expressed support and enthusiasm for local AI inference.
Karnataka gig workers seek implementation of welfare schemes
In a letter to the board’s chief executive officer, Indian Federation of App-based Transport Workers (IFAT) and Karnataka App-based Workers Union (KAWU) sought immediate rollout of health and accident insurance, income support during medical emergencies and temporary disablement, maternity benefits, scholarships for children of platform workers and an emergency distress fund.
26-year-old corporate employee in Bengaluru shares her September expenses: ₹25K rent, ₹12K food orders and more
A 26-year-old professional based in Bengaluru shared her spending habits for September, revealing her total expenses reached ₹63,000. She paid ₹25,000 for rent and maintenance, spent ₹12,000 on food, and budgeted ₹6,000 for digital subscriptions. Her shopping and personal care costs added another ₹7,000, while transportation accounted for ₹7,000.
SBI Mutual Fund’s stake in Swiggy crosses 5% as asset manager picks up shares worth Rs 300 crore
SBI Mutual Fund bought the shares at around Rs 253-254 apiece on September 29, taking its holding in Swiggy from 4.7% to 5.1%.
Union minister Piyush Goyal to headline ET Startup Awards on October 9 in Bengaluru
Goyal has been leading trade negotiations with key partners, including the US, after sealing high-profile deals with the UK, which came into force in July, and the EU, which is expected to take effect early next year. His ministry is also overhauling a raft of laws and regulations to make it easier to do business and to cement India's position as a global manufacturing hub, a push that has coincided with record foreign direct investment (FDI) inflows of $94.53 billion in FY26.
Prosus in talks to invest Rs 150 crore in Swiggy Instamart challenger BazaarNow
BazaarNow, founded by former Zepto executives Priyanshu Jain, Arjun Harish and Tarithmay Mandal, sells groceries and daily essentials, focusing on local products and regional brands in Tier 2 and 3 cities. It raised Rs 72 crore from Peak XV Partners and others in June. Instamart also serves smaller markets through its 131-city network.
New indicator for New India: 25 stocks whose numbers can reveal what is in store for the economy and the stock market
For decades, there was a familiar way to understand the Indian consumer. Economists waited for GDP, industrial production, inflation, credit growth and other official numbers, and then used them to work out whether households were spending more or pulling back. Those indicators still matter. But the Indian consumer has changed faster than the dashboard used to track consumption and spending patterns. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
Ownly launches in Hyderabad, bets on lower-cost food delivery model
Rapido’s food delivery venture Ownly, which launhed in Hyderabad, is targeting profitability despite an average order value of around Rs 250, nearly half the Rs 400-420 seen at listed rivals Swiggy and Zomato. Co-founder Aravind Sanka said delivery accounts for 85-90% of industry costs, while Ownly is leveraging Rapido’s existing technology, teams and logistics network to keep costs lower.
Gig workers turn to tax filing as TDS refunds offer cash, financial records
Gig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax refunds after deductions at source. This service helps workers establish formal financial records for credit applications. Platforms like Zomato and Swiggy facilitate these filings for numerous partners. This shift signifies growing tax compliance within India's gig economy.
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