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BIZARRE: 2 - What They Never Told You

ETtech Interview | Quick commerce industry unlikely to sustain as many players as today: Swiggy's Sriharsha Majety

Swiggy CEO Sriharsha Majety believes the quick commerce market is overpopulated and prioritises long-term economics over market share battles. He addressed recent shareholder concerns regarding board appointment rights, emphasising its link to the company's Indian Owned and Controlled Company (IOCC) status.

The Economic Times

Swiggy CEO on failed shareholder vote; Indian firms brace for Mythos

Happy Thursday! Swiggy group CEO Sriharsha Majety opened up about the recent hitch to become an Indian-owned company. This and more in today's ETtech Morning Dispatch.

The Economic Times

Swiggy CEO Sriharsha Majety vows to stay out of Amazon-Ambani spending war

Swiggy is prioritizing profitability over rapid expansion. The company will not match rivals like Flipkart and Reliance Retail's aggressive delivery speed and discount strategies. Swiggy's CEO believes this approach will retain loyal customers. This decision comes amid intense competition in India's fast-growing quick commerce sector. Investors are seeking a clear…

The Economic Times

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No governance issue with shareholder resolution, will hold revote soon: Swiggy group CEO Sriharsha Majety

Swiggy shareholder resolution revote: The resolution sought to amend Swiggy’s articles of association as part of a broader push to become an Indian Owned and Controlled Company (IOCC). It failed to secure the required 75% supermajority from shareholders, falling short by a slim margin at the meeting on May 21.…

The Economic Times

Ola Electric eyes commercial EV launch for gig workers amid quick commerce boom

Sources said the company received approval for the new vehicle in early February and is expected to launch the model in the coming quarters.

The Economic Times

Swiggy says failed shareholder resolution aimed at governance, not founder control

In an exchange filing, the company said the proposed amendments were designed to create a governance structure suited to a company without an identifiable promoter group, while ensuring continuity in management oversight and execution accountability.

The Economic Times

QSR chains face margin pressure, not demand shock: Karan Taurani on fuel and LPG impact

Rising fuel and LPG prices are impacting India's consumption landscape unevenly. While some sectors like QSR face margin compression due to high LPG dependence, others like alco-bev and retail show divergence based on cost structures and input reliance. Platform businesses are relatively insulated but face risks from restaurant partner struggles…

The Economic Times

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ETtech Explainer: How Swiggy’s failed bid to become an Indian firm matters for Instamart

Swiggy's bid to become an Indian-owned-and-controlled company (IOCC) has been delayed after shareholders failed to approve changes to its articles of association. This governance reset was crucial for its Instamart unit to gain inventory flexibility and improve margins, a strategy that benefited rival Eternal.

The Economic Times

IT sector a contrarian opportunity at current valuations: Aditya Shah

Aditya Shah of Hercules Advisors identifies power, banking, chemicals, and real estate as promising sectors for long-term growth amidst global uncertainty. While cautious on EMS due to valuations, he sees potential in quick commerce players demonstrating disciplined execution and profitability, favoring Blinkit currently.

The Economic Times

Swiggy’s shareholder setback; Walmart’s Flipkart push

Happy Friday! Swiggy’s move to become an Indian-owned company hit a setback after the shareholder vote fell short. This and more in today’s ETtech Morning Dispatch.

The Economic Times

Swiggy fails to clear shareholder hurdle in bid to recast itself as Indian-owned company

In an exchange filing on Thursday, Swiggy stated that its resolution on the Amendment of Articles of Association received 72.36 per cent votes of shareholders, falling short of the required threshold by 2.65 per cent.

The Economic Times

Your Swiggy, Zomato orders may get costlier as fuel prices rise

Fuel price hikes may impact food delivery and quick commerce firms Eternal and Swiggy. Elara Capital reports a manageable near-term cost pressure. Gig workers might seek higher payouts. The impact on earnings is expected to stay under control. Companies may share the burden through customer charges, absorption, and delivery partner…

The Economic Times

Board nomination framework changes part of effort to achieve Indian-owned company status: Swiggy

Swiggy has announced upcoming adjustments to its board nomination policies as part of its strategy to establish itself as an Indian owned and controlled company. This initiative is designed to align with foreign exchange compliance requirements.

The Economic Times

SoftBank logs $600 million paper loss on India-listed portfolio in Jan-Mar

SoftBank's Indian investments faced a significant downturn in the January-March quarter. Several prominent companies like Swiggy and Ola Electric saw their market value drop. This led to substantial paper losses for SoftBank's Vision Fund. Despite overall gains from other investments, the Indian portfolio's performance highlights recent market challenges. SoftBank has…

The Economic Times

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The Economic Times

SoftBank logs $600 million paper loss on India-listed portfolio in March quarter

The Economic Times

Ahead of Market: 10 things that will decide stock market action on Wednesday

Indian equity markets extended losses for a fourth straight session as broad-based selling in IT, banking, auto, and consumer stocks dragged benchmarks lower. Weak global cues, rising inflation data, and technical breakdowns deepened bearish sentiment, with analysts warning further downside toward key support levels.

The Economic Times

India celebrated Mother’s Day with 13,039 cakes an hour and Rs 1 lakh-plus dinners: Swiggy

Mother's Day saw a significant surge in food delivery and dining out across India, with Swiggy reporting a 26.24% rise in food orders and a 71.8% jump in premium restaurant bookings. Consumers splurged on cakes and family dinners, with peak demand for cakes occurring between 7 pm and 8 pm.

The Economic Times

ETtech Explainer: Why is Swiggy stock tanking after its Q4 results?

Swiggy's stock dipped 7% after reporting a 45% rise in Q4 FY26 revenue to Rs 6,383 crore and a narrowed net loss. Analysts cited a slowdown in its quick commerce business, Instamart, as the primary reason for the stock's pressure, despite strong food delivery performance.

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The Economic Times

Jio revamps mega IPO; DailyObjects lines up fresh capital

Reliance Industries is revamping Jio Platforms’ IPO plans amid investor disagreements over valuation. This and more in today's ETtech Top 5.

The Economic Times

Swiggy shares plunge 7% after Q4 results. What are Nomura, Citi and others saying?

Swiggy shares plunged 7% after the company reported a Q4 FY26 net loss of Rs 800 crore. Despite narrowing losses and strong growth in food delivery and Instamart, brokerages flagged rising competition in quick commerce. Nuvama, Nomura and Citi retained bullish ratings, citing improving margins, strong execution and long-term growth…

The Economic Times

Swiggy, magicpin say delivery times improving as gig workers return to cities

Delivery times are improving as gig workers return to cities. This follows the recent state elections and the peak harvest season. Food delivery platforms like Swiggy and magicpin expect a normalisation of services soon. This return of delivery partners will boost rider availability. The sector anticipates growth after a challenging…

Newslaundry

Piping hot: India’s delivery economy runs on worker heat stress

“No matter if it is hot or raining, we have to work," says 30-year-old Rakesh Sahu (name changed), from Uttar Pradesh’s Jaunpur, who works as a delivery agent for Swiggy in Delhi. When IndiaSpend met him in early April in Saket, he had a cloth wrapped around his head, and a cap…

Times Life

Labour Day 2026: The Hidden Cost of Gig Work in India

Every year, International Workers' Day invites reflection on the dignity of work, the rights of workers, and the evolving nature of employment. In 2026, that reflection feels more urgent than ever in India, where the rise of gig work has quietly reshaped what it means to earn a living. What…

Whats Hot

Emotional Video of Swiggy Delivery Rider Sparks Debate on Kindness and Privacy

A video showing a delivery rider from Swiggy becoming emotional after customers offered him a meal has gone viral online, touching many viewers while also sparking debate about how acts of kindness should be shared on social media.

Newslaundry

TV Newsance 328 | 10 minutes for you, 15 hours for them. What Zomato’s CEO won’t tell you

On this week’s episode of TV Newsance, we look at the brutal reality of India’s gig economy. This isn’t a usual episode – we step away from studio shouting matches and spotlight some actual good reporting.

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