Latest news with #Eternal
Time of India
2 hours ago
- Business
- Time of India
Trade deal windfall for Indian IT; Trump's warning shot
Trade deal windfall for Indian IT; Trump's warning shot Also in the letter: India-UK deal gives IT exports and workers a boost Driving the news: What they're saying: Zoom out: The big picture: Also Read: Trump warns US tech firms: No more factories in China, jobs in India What's the matter: Also Read: Why it matters: Expert take: Reality check: Also Read: Blinkit drives Eternal's Q1; margin outlook improves with inventory shift Catch up quick: Gross order value jumped 140% year-on-year to Rs 11,821 crore. Net order value (NOV) touched Rs 9,203 crore, overtaking Eternal's food delivery business for the first time. The company added 243 dark stores in Q1 and aims to reach 3,000 by 2026. Margin play: Why it matters: What's next: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Intel to cut 31% of workforce, cancels factory plans amid deep losses The details: Why it matters: CEO speak: Shake-up at Swiggy board; SoftBank, Accel exit stage Tell me more: SoftBank's Sumer Juneja and Accel's Anand Daniel have resigned from the board, according to a recent regulatory filing. Both cited pressing professional commitments as the reason for their exits. In their place, Swiggy has added Faraz Khalid as an independent director, the fourth such addition to its board. Who's on board: Introductions: Significance: Chart-ed: IPO winners and losers India's software exports are set to get a boost from the latest trade pact with the UK. This and more in today's ETtech Top 5.■ Blinkit drives Eternal's Q1■ Intel hits reset button■ Swiggy's board shakeupIndia's IT services exports to the UK are projected to grow by 15–20% each year from the FY25 base of $32 billion, thanks to new tax and labour concessions under the India-UK trade a significant win, Indian tech professionals will now be exempt from UK social security contributions for up to 36 months. This move, which effectively saves 20% of their salary, will benefit around 60,000 workers and generate over Rs 4,000 crore in corporate Puneet Gupta called it a 'game-changer' for short-term projects. Nasscom estimates Indian professionals have lost $1 billion globally due to dual social security taxes. The exemption fixes a long-standing fiction firms will also get a three-year waiver from the UK's Jobs Tax. Commerce minister Piyush Goyal said the agreement opens doors for IT, education, and services startups eyeing high-value UK US deal cycles slow, Europe is stepping up as a key demand driver. This UK carve-out sharpens the trend and signals India's intent to boost global mobility for its tech as India's tech workforce gains global mobility wins in the UK, a harder message is emerging from the US At an AI summit, President Donald Trump declared that the era of US tech firms manufacturing in China and hiring in India was 'over.' He urged the companies to 'go all-in for America,' accusing them of offshoring jobs while enjoying the benefits of American speech came days after the US released its AI Action Plan , which tightens export controls and backs local tech plan urges US allies to adopt similar curbs – or risk secondary tariffs. India isn't directly named, but may feel the heat if it doesn't fall in line on AI policy and Sahiba of The Dialogue said the move signals a tightening tech bloc, emphasising that India must navigate a diplomatic tightrope and balance its tech alliances. 'This opens up opportunities, but also risks,' she the noise, US firms still depend heavily on Indian talent through GCCs. Futuresense's Raghav Gupta warned that protectionism could backfire on American commerce platform Blinkit was the standout performer for its parent company, Eternal, in Q1 FY26, with its pivot to an inventory-led model earning praise from such as Jefferies and Nuvama see a 1% margin improvement (as a % of NOV) over the next 2–3 quarters. Kotak expects Blinkit to hit Ebitda breakeven by March 2026. Switching to an inventory-driven model enhances return on cash employed and aligns Blinkit's accounting structure more closely with offline retailers like Dmart. However, this may reduce revenue recognition for Hyperpure, which previously managed Blinkit's backend fulfilment With quick commerce gaining momentum and food delivery showing signs of fatigue , Blinkit is set to shape Eternal's growth story through FY26, and possibly redefine its Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship plans to shrink its global headcount to 75,000 by the end of the year – a sharp 31% drop from 2023 – as it battles mounting losses and resets its global chipmaker has already laid off 15,000 employees and is scaling back factory projects in Germany, Poland, and Ohio (United States). It is also shutting down operations in Costa Rica and shifting work to lower-cost locations in Vietnam and cuts reflect deeper challenges in the global semiconductor race, where cost pressures, geopolitical headwinds, and AI investments are reshaping the game. Intel's big bet on foundry services is still in early innings, and these moves suggest the turnaround is far from company posted a $2.9 billion loss in Q2, mainly due to restructuring charges, even as revenue edged past expectations at $12.9 billion.'We are making hard but necessary decisions,' CEO Lip-Bu Tan wrote to employees, vowing to boost efficiency and quarterly loss is expected. The real test is whether this reset unlocks the firepower needed to catch up with rivals Nvidia, AMD, and board has seen a major reshuffle just months after the food and grocery delivery giant went public, with nominees of two heavyweight investors stepping current line-up includes chairperson and non-executive independent director Anand Kripalu, Swiggy CEO and MD Sriharsha Majety, cofounder Nandan Reddy, and independent directors Shailesh Haribhakti, Suparna Mitra and Faraz Khalid. Also on the board are Roger Clarks Rabalias, representing Prosus, and Ashutosh Sharma from MIH Internet is the CEO of the Middle East-based ecommerce, quick commerce, and food delivery platform Noon, and previously co-founded the online fashion store said the appointment reflects its shift to a more independent governance structure. 'With his (Khalid's) joining our board, our independent directors (led by our Chairperson) represent four pillars of strategic governance,' CEO Majety said in a parent, Eternal, led the IPO gains significantly, according to data from exchanges. The share price of the restaurant aggregator and quick delivery platform has risen by 309% from its IPO price of Rs 76 when it listed in July platform Ixigo's parent, LeTravenues Technology, is a distant second, but still with a substantial 135% increase over its issue Electric and Paytm are the laggards on our list, trading 46% and 50% below their respective prices.
Business Upturn
a day ago
- Business
- Business Upturn
Nifty top gainers today, July 24: Eternal, Dr. Reddy's Laboratories, Tata Motors, Tata Consumer Products and more
By Aman Shukla Published on July 24, 2025, 15:38 IST Indian benchmark indices ended lower on July 24, with the Sensex slipping 542.47 points to settle at 82,184.17, and the Nifty closing 157.80 points down at 25,062.10. However, a few heavyweight stocks from the Nifty 50 pack managed to defy the broader market trend and posted notable gains. Below is a detailed look at the top gainers of the Nifty 50 (as per Trendline) for the day. Nifty 50 Top Gainers on July 24 Eternal closed at ₹312.5, up 3.4% Dr. Reddy's Laboratories ended at ₹1,268.9, up 1.7% Tata Motors closed at ₹701.3, up 1.6% Tata Consumer Products ended at ₹1,073.0, up 1.0% Cipla closed at ₹1,486.3, up 0.9% Grasim Industries settled at ₹2,729.2, up 0.7% Jio Financial Services ended at ₹316.5, up 0.7% Eicher Motors closed at ₹5,472.5, up 0.6% Sun Pharmaceutical ended at ₹1,692.0, up 0.6% Tata Steel closed at ₹163.6, up 0.5% Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Dr Reddy's LaboratoriesEternalTata Consumer ProductsTata Motors Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Economic Times
a day ago
- Business
- Economic Times
Eternal shares zoom 20% this week as Street rejoices Q1 results. What should investors do now?
Shares of Eternal, formerly Zomato, have surged 19.7% so far this week, hitting a high of Rs 307.95 on the BSE on Thursday. The rally follows the company's Q1FY26 earnings report, which, despite a steep decline in profitability, impressed the Street with strong topline performance and robust growth across its core verticals. ADVERTISEMENT The stock touched a fresh record high of Rs 311.60 earlier this week after it reported a 70% YoY surge in revenue from operations to Rs 7,167 crore for Q1FY26. This growth was led by solid performance in the quick commerce and food delivery segments. However, net profit dropped sharply by 90% YoY to Rs 25 crore, down from Rs 253 crore in the same quarter last year, largely due to continued investments in quick commerce and the going-out vertical. Akshant Goyal, CFO of Zomato, attributed the drop in profitability to 'continued investments in quick commerce and the going-out vertical.'The company's consolidated adjusted EBITDA declined 42% YoY to Rs 172 crore. Still, food delivery EBITDA margin improved to 5.0% from 3.9% a year ago. Additionally, net order value (NOV) of its B2C businesses grew 55% YoY and 16% QoQ to Rs 20,183 crore, with quick commerce surpassing food delivery NOV for the first time in a full quarter. ADVERTISEMENT After the sharp run-up, technical analysts have differing views on the next course of to Kunal V Parar, VP of Technical Research and Algo at Choice Broking, 'The stock has delivered an impressive return in recent sessions and continues to exhibit strong upward momentum, suggesting potential for further gains from current levels.' He observed that although the stock recently touched a new all-time high, it 'struggled to sustain above its previous resistance at Rs 305.' ADVERTISEMENT A decisive close above this level could, in his view, trigger the next leg of the rallyFrom a technical standpoint, Parar noted that the stock is currently trading above both its 50-day and 100-day moving averages, with a positive crossover that signals sustained bullish sentiment. Additionally, the daily Relative Strength Index (RSI) has moved above 70 for the first time in a while, indicating renewed market participation. ADVERTISEMENT He expects the stock to move towards the Rs 324–Rs 360 range in the near term, but advised investors to maintain a strict stop loss at Rs 275 to manage the other hand, Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, advised caution at current his words, 'At the current juncture, investors are advised to book profits in the Rs 300–Rs 305 range, as the stock approaches its previous high from December 2024.' ADVERTISEMENT Also read:IEX shares hit 10% lower circuit after CERC nod for market coupling ahead of Q1 resultsPatel added that investors should adopt a 'wait-and-watch approach' until a decisive weekly close above Rs 305 is observed before considering any fresh Thursday, the shares of Eternal were trading 2% higher at Rs 308 on the BSE around 10 am. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
a day ago
- Business
- Time of India
Eternal shares zoom 20% this week as Street rejoices Q1 results. What should investors do now?
Live Events What should investors do now? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Eternal , formerly Zomato , have surged 19.7% so far this week, hitting a high of Rs 307.95 on the BSE on Thursday. The rally follows the company's Q1FY26 earnings report, which, despite a steep decline in profitability, impressed the Street with strong topline performance and robust growth across its core stock touched a fresh record high of Rs 311.60 earlier this week after it reported a 70% YoY surge in revenue from operations to Rs 7,167 crore for Q1FY26. This growth was led by solid performance in the quick commerce and food delivery net profit dropped sharply by 90% YoY to Rs 25 crore, down from Rs 253 crore in the same quarter last year, largely due to continued investments in quick commerce and the going-out Goyal, CFO of Zomato , attributed the drop in profitability to 'continued investments in quick commerce and the going-out vertical.'The company's consolidated adjusted EBITDA declined 42% YoY to Rs 172 crore. Still, food delivery EBITDA margin improved to 5.0% from 3.9% a year ago. Additionally, net order value (NOV) of its B2C businesses grew 55% YoY and 16% QoQ to Rs 20,183 crore, with quick commerce surpassing food delivery NOV for the first time in a full the sharp run-up, technical analysts have differing views on the next course of to Kunal V Parar, VP of Technical Research and Algo at Choice Broking, 'The stock has delivered an impressive return in recent sessions and continues to exhibit strong upward momentum, suggesting potential for further gains from current levels.' He observed that although the stock recently touched a new all-time high, it 'struggled to sustain above its previous resistance at Rs 305.'A decisive close above this level could, in his view, trigger the next leg of the rallyFrom a technical standpoint, Parar noted that the stock is currently trading above both its 50-day and 100-day moving averages, with a positive crossover that signals sustained bullish sentiment. Additionally, the daily Relative Strength Index (RSI) has moved above 70 for the first time in a while, indicating renewed market expects the stock to move towards the Rs 324–Rs 360 range in the near term, but advised investors to maintain a strict stop loss at Rs 275 to manage the other hand, Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, advised caution at current his words, 'At the current juncture, investors are advised to book profits in the Rs 300–Rs 305 range, as the stock approaches its previous high from December 2024.'Patel added that investors should adopt a 'wait-and-watch approach' until a decisive weekly close above Rs 305 is observed before considering any fresh Thursday, the shares of Eternal were trading 2% higher at Rs 308 on the BSE around 10 am.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
India.com
2 days ago
- Business
- India.com
Rs 20000000000 earned in just 2 days! Blinkit makes Deepinder Goyal even richer by..., beats BIG companies like Wipro, Tata Motors, others
BIG trouble for Deepinder Goyal as internal whistleblower alleges... Zomato CEO responds, says.... Deepinder Goyal, one of India's modern business icons, is once again in the news. His company, Eternal, has seen a big jump in its share price and the reason behind this sudden rise is its quick commerce business, Blinkit. Because of this sharp rally, Goyal's personal wealth has gone up by nearly Rs. 2,000 crore in just two days. In the last two trading sessions, Eternal's shares have increased by over 21 per cent. On the NSE, the stock even hit an all-time high of Rs. 311.60. This strong performance has pushed Eternal's market value beyond Rs. 3 lakh crore, making it more valuable than big names like Wipro, Tata Motors, Nestlé, and Asian Paints. Deepinder Goyal's net worth crosses Rs. 11,500 crore Deepinder Goyal, who is 42 years old, owns 3.83 per cent of Eternal. Thanks to the rise in the share price, his total wealth has now crossed Rs. 11,515 crore. According to Forbes, his net worth is now about USD 1.9 billion, placing him among the fastest-growing entrepreneurs in India. The rise in Eternal's share price The rise in Eternal's share price is not random as the biggest reason behind it is the growth of its quick delivery business, Blinkit. According to reports, Blinkit's net order value (NOV) has now become bigger than Zomato's food delivery business. Eternal's success is also helping its competitors and investors. For example, Swiggy's shares jumped 7 per cent in a single day. Info Edge, which owns 12.38 per cent of Eternal, saw its stock price rise by more than 3 per cent. Now, Eternal is planning to open 3,000 Blinkit stores in the future, though the exact time of the plan has not been revealed yet. Who is Deepinder Goyal and how did he start Zomato? Deepinder Goyal is the co-founder and CEO of Zomato. He started the company in 2008 along with his friend Pankaj Chaddah. At first, the website was called Foodiebay. It simply showed menus of different restaurants. The idea came to him when he was working at Bain & Company. He noticed that people in his office often struggled to find restaurant menus during lunch. That's when he got the idea as to why not put all the menus of the restaurants in one platform? Later in 2010, the company was renamed Zomato, and it slowly became a popular name in the food industry. What was Deepinder Goyal's early life and education like? Deepinder Goyal was born on 26 January 1983 in a small village in Punjab. He did his schooling in Chandigarh. After that, from 2000 to 2005, he studied at IIT Delhi, where he earned a degree in Mathematics and Computing. After college, he got a job at Bain & Company, a global consulting firm. That's where his journey toward starting Zomato began. What services does Zomato offer today? Today, Zomato offers many useful services in India and the UAE. It helps people order food online, book tables at restaurants, and read reviews written by other customers. In 2022, Zomato also bought Blinkit (which was earlier called Grofers). Blinkit delivers groceries and daily essentials in just 10 minutes.
