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Flipkart extends lead in Indian ecommerce, Myntra widens lead in fashion, says BofA

Flipkart Group solidifies its e-commerce dominance in India, with Myntra leading the online fashion segment, according to a Bank of America Securities report. Despite intense competition, consumer demand remains robust, defying concerns about slowing discretionary spending. The report highlights resilient growth across various internet sectors, including online travel, quick commerce,…

The Economic Times

Meesho to buy Kirana Club for Rs 202 crore, eyes deeper retail play

Ecommerce giant Meesho is set to acquire Kirana Club for Rs 202 crore in a cash deal, aiming to bolster its reach within India's vast kirana and small retailer network. This strategic move, approved by Meesho's board, will see the acquisition of Kirana Club's Singapore entity and its Indian subsidiary,…

The Economic Times

Meesho: Why Jefferies believes the stock could rally 34% from current levels

Jefferies sees significant growth for Meesho. The brokerage initiated coverage with a 'Buy' rating and a target price of Rs 225. This suggests a potential 34% rally for the stock. Meesho is well-positioned to benefit from India's expanding value-commerce market. The company targets price-conscious consumers, particularly in smaller cities. Jefferies…

The Economic Times

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Macquarie initiates 'Underperform' rating on Meesho, sees 25% downside. Here's why

Macquarie has initiated coverage on Meesho with an ‘Underperform’ rating and a target price of Rs 125, implying nearly 25% downside. The brokerage believes declining average order values and modest per-order economics could limit profitability, despite strong user growth, improving engagement metrics, and the company’s focus on free cash flow.

The Economic Times

Silicon Valley’s South Park Commons ramps up India deeptech push

South Park Commons is increasing its focus on India's deeptech sector, shifting investments beyond traditional software to areas like semiconductors and robotics. The firm, which backs founders at the earliest stages, sees growing global investor appetite for hardtech due to policy support and maturing startups. SPC aims for at least…

The Economic Times

SoftBank snags Rs 2,873 crore from Lenskart stake sale, clocking 7x return

SVF II Lightbulb Cayman, a SoftBank affiliate, sold 5.65 crore shares, or 3.25%, in Lenskart for Rs 2,873 crore through a block deal on Wednesday. The shares were sold at Rs 508.55 apiece, with Goldman Sachs, Fidelity, Quant Mutual Fund, WhiteOak Capital, and other institutional investors among the buyers. SoftBank’s…

The Economic Times

Oyo readies market debut; IT's comeback rally

Oyo's IPO plans are back on track after securing the regulator's nod. This and more in today's ETtech Top 5.

The Economic Times

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IPO investors brace for 70 lock-in expiries worth $35 billion in three months. Do you own any?

According to Nuvama Alternative & Quantitative Research, the Indian stock market is set to witness a significant wave of lock-in expiries between May 26 and August 31, as shares of 70 recently listed companies worth nearly $35 billion become eligible for trading.

The Economic Times

Listed new-age companies use AI to tune their daily ops engine

Companies are using AI to personalise discovery, improve marketing efficiency, reduce manual work in logistics, handle customer support, reduce failed deliveries, improve store productivity and speed up internal technology deployment. The use cases differ across companies, but the common thread is that AI is now being applied extensively to operating…

The Economic Times

Flipkart revamps Shopsy to take on Meesho, Amazon Bazaar in value commerce segment

Shopsy has over 450 million app downloads and delivers across more than 20,000 pin codes, but did not disclose its annual transacting users or order volumes. The company also declined to comment on specifics.

The Economic Times

IPO investors brace for 73 lock-in expiries worth $34 billion in three months. Will your portfolio be impacted?

India’s stock market is set for a wave of IPO lock-in expiries over the next three months, with shares worth $34 billion from 73 recently listed companies becoming eligible for trading, according to Nuvama Alternative & Quantitative Research. The expiry only makes these shares tradable and does not necessarily mean…

The Economic Times

Flipkart Pulls Ahead: How India's E-Commerce Giant is Winning Hearts and Carts

From weekly active users to GMV share, two new institutional reports reveal that Flipkart is extending its lead over competitors and building a multi-business moat that rivals struggle to replicate.

The Economic Times

Irrational pricing unlikely in third-party logistics even as ecommerce growth improves: Delhivery’s Sahil Barua

Delhivery CEO Sahil Barua anticipates no "irrational pricing" or heavy capital expenditure in the third-party logistics sector, despite projected ecommerce growth. He believes third-party players will gain market share from first-party operators like Amazon and Flipkart due to cost efficiencies.

The Economic Times

Smallcaps rally! IIFL Finance, Hindustan Copper, Meesho, other stocks jump up to 7%

Smallcap stocks, including IIFL Finance, Meesho, and GRSE, surged up to 7% on Wednesday, outperforming benchmark indices. This rally occurred despite broader market caution, with the Nifty Smallcap 100 index showing robust gains. Experts remain optimistic about mid and smallcap earnings, viewing recent corrections as opportunities.

The Economic Times

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The Economic Times

ETtech Explainer: AI is writing most of the code for companies — what this means

AI is now writing a large part of code for tech companies. Google, Microsoft, Meta, and Indian firms like Meesho and Freshworks are using AI extensively. This shift boosts productivity. Developers are focusing on complex tasks and quality.

The Hindu

Centre issues order against top e-commerce platforms for selling seat belt alarm stopper clips

The Centre issued an order against Amazon, Flipkart, Snapdeal, Shopclues and Meesho for selling car seat belt alarm stopper clips

The Times of India

Central Consumer Protection Authority sends notices to online sites Flipkart & Meesho in Delhi acid attack on schoolgirl

NEW DELHI: The Central Consumer Protection Authority (CCPA) on Friday sent notices to online sites Flipkart and Meesho for violations relating to the sale of acid reported on their platforms.

The Independent UK

Indian company announces 11-day mental health break for its employees

E-commerce platform Meesho says employees would like ‘much-needed time off to reset and recharge’

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The Times of India

IT firms resort to work-from-home amid Bengaluru rain fury

BENGALURU: India's best-known IT firms and startups have asked staff to work from home as torrential rains brought chaos to the streets of the technology hub, marooning roads and snapping water and electricity supplies.

The Hindu

Karnataka signs pact with Meesho for empowerment of 2,500 SHGs

The ‘Saamarthya’ scheme, launched under the MoU, will offer assistance for self-employment to rural women

The Times of India

Meesho logs in 5.3 million orders in its flagship sale event

BENGALURU: Internet commerce platform Meesho has recorded 5.3 million orders during its flagship sale event -- Maha Indian Savings Sale -- that was held on Sunday.

Al Jazeera

Funding winter descends on Indian startups

Mid-to-late stage startups after raising record funds last year are now struggling to survive.

The Times of India

FIR against online portal in Thane for selling abortion drugs

NAVI MUMBAI: A medical inspector attached to office of joint commissioner, Food and Drug Administration (FDA), Thane, on Saturday registered an FIR against Meesho, an online shopping portal, and M/s SS Traders, a medicine distributor based in Delhi, for selling abortion drugs online without doctor's prescriptions.

Benzinga

Meta, SoftBank Backed Indian Startup Targets IPO; Exploring Indian and US Exchanges

Facebook parent Meta Platforms Inc (NASDAQ:FB) and SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) Vision Fund 2 backed Indian startup, Meesho, looks to go public in early 2023, Reuters reports. The Bengaluru-based social commerce platform is rooting for a listing by the end of 2022. Meesho is evaluating both Indian and U.S. exchanges. Resellers on the company's…

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