Eternal, Swiggy drop as Rapido undercuts food delivery commission

Share via:


Shares of Zomato parent Eternal and its duopolistic rival Swiggy dropped as much as 2.5% and 4% on Monday as Rapido undercut them in commissions levied from restaurants. The unlisted ride-hailing platform is looking to foray in the food delivery space.

Eternal shares closed 1.86% lower on BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Prosus-backed Swiggy ended the day’s trade 2.79% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at 82,445.21.

The drop in…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Eternal, Swiggy drop as Rapido undercuts food delivery commission


Shares of Zomato parent Eternal and its duopolistic rival Swiggy dropped as much as 2.5% and 4% on Monday as Rapido undercut them in commissions levied from restaurants. The unlisted ride-hailing platform is looking to foray in the food delivery space.

Eternal shares closed 1.86% lower on BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Prosus-backed Swiggy ended the day’s trade 2.79% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at 82,445.21.

The drop in…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Here’s What’s New in iOS 26.3 So Far

Apple today seeded the second beta of iOS 26.3,...

A Destiny-style raid has come to Halo Infinite

Halo Studios' free-to-play Xbox and PC live-service shooter Halo...

Securing digital assets as crypto crime surges

For businesses to protect cryptocurrency, tokens, critical documents, or...

Popular

iptv iptv iptv