Goldman Sachs’ top ideas for the current year are HDFC Bank with a target price of Rs 2,090, AU Small Finance with a target price of Rs 796, Titan with a target price of Rs 3,900, GCPL with a target price of Rs 1,370, Indigo with a target price of Rs 5,050, Adani Ports with…
Zomato is set to get a new name. In a letter addressing shareholders, Deepinder Goyal, the founder and CEO of the food delivery major confirmed that the board of directors has approved a resolution to change the company’s name to Eternal Ltd. With this letter, Goyal is seeking shareholder support for the name change, which…
Zomato CEO Deepinder Goyal apologised for charging Rs 2 fee for veg-mode enablement and said that it is “stupid on our part.”Responding to a LinkedIn post that criticised this charge and called it “Zomato’s latest masterstroke,” Deepinder Goyal said the charge will be removed and will be fixed. He after few minutes again commented removed…
J P Morgan has maintained its ‘overweight’ recommendations on Swiggy with a target price of Rs 730 (+51%) and Zomato with a target price of Rs 340 (+40%). Analysts see current share prices as attractive entry points for both the stocks. They also have positive views of the two companies about their ramp-up strategies for…
Kabeer Biswas, co-founder of the Reliance-backed hyperlocal delivery startup Dunzo, is joining Flipkart to lead its quick commerce business, Minutes. This move follows months of discussions between Biswas and the e-commerce giant.Biswas, who played a crucial role in building Dunzo into a prominent player in the hyperlocal delivery sector, will be joining Flipkart on January…
Hurun India has released a report with its latest ranking of self-made entrepreneurs who have built the most valuable companies since the year 2000. While Radhakishan Damani, founder of retail giant DMart, claims the top spot, the report also features a list that highlights a new generation of young entrepreneurial talent.Among the “Top Among the…
Zomato’s market cap has seen a remarkable 190% increase to Rs 2,51,900 crore. Zomato CEO Deepinder Goyal is India’s 2nd biggest self-made entrepreneur! Zomato’s valuation has seen a remarkable 190% increase to Rs 2,51,900 crore, positioning its CEO Deepinder Goyal as India’s second-highest valued self-made entrepreneur, according to Hurun India. Swiggy‘s leaders Sriharsha Majety and…
Shantanu Deshpande, founder-CEO of Bombay Shaving Company, has criticised the focus on ultra-fast delivery in India’s food delivery industry and has warned companies of a potential public health crisis. In a LinkedIn post, he expressed concerns about the prevalence of processed and unhealthy foods offered by platforms like Zomato and Swiggy, often prepared with frozen…
The Rs 803.7 crore tax demand exceeds Zomato’s total profits since achieving profitability in the April-June 2023 period. Zomato has received a notice from GST authorities demanding Rs 803 crore in outstanding tax, including penalty and interest, covering the period from 2019 to 2022. The dispute centres on whether food delivery platforms are required to…
A Zomato shareholder demanded a proof of the company’s “100% Green Deliveries” claim, prompting a detailed rebuttal from CEO Deepinder Goyal. The controversy erupted when a user challenged Zomato’s environmental credentials, remarking sarcastically: “100% Green Deliveries on Petrol Bikes delivering ‘trekhe meethe golpaggpe’? Companies like Zomato should not make false claims just to sound cool….
