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Shares of Zomato parent Eternal and its rival Swiggy dropped as much as 2.5% and 4% on Monday following an ET report that Rapido is planning to launch its food delivery services this month by charging significantly lower commissions to restaurants than the two large players.
Eternal shares closed 1.9% lower on the BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Swiggy ended the day’s trade 2.8% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at…
