10th Indian Delegation to Dubai, Gitex & Expand North Star – World’s Largest Startup Investor Connect
E Commerce

Swiggy Shares Hit 52-Week Low After Q3 Results


SUMMARY

The stock opened with a sharp 7.43% gap down but later pared some losses, trading 3.85% lower at INR 402 at 10:25 AM

Swiggy’s consolidated net loss surged 39.1% YoY and 27.7% QoQ to INR 799 Cr in Q3 FY25

The latest 52-week low represents a 37.27% decline from the stock’s peak on December 23, 2024

Swiggy’s shares plunged as much as 7.43% today, hitting a fresh 52-week low of INR 387.00 on the BSE today (February 6), following the company’s report of a widened net loss of INR 799 Cr for the December quarter,…



Source link

by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link