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Zeno Health, an Indian healthtech startup, has launched a 50-minute medicine delivery service following a US$25 million Series C funding round. Operating over 180 retail pharmacy stores in Maharashtra, the company focuses on affordable generic medicines and serves over 1.5 million customers through its mobile app and in-store options. With plans to expand and enhance technology, Zeno Health competes with established players like Tata 1mg and PharmEasy in the rapidly growing healthcare delivery market.
Rapido is currently in discussions to enter the food delivery market, aiming to compete with established players like Swiggy and Zomato. This move marks a significant expansion for the company, which is known for its bike taxi services, into a new and competitive sector.
Swiggy Instamart has expanded its reach to 100 cities across India, adding 32 more cities in 2025. To enhance product availability, the company introduced 'megapods' capable of storing up to 50,000 SKUs, offering over 30,000 products, including electronics and fashion. Despite a net loss of 799 crore rupees in Q3 FY25, Swiggy plans to increase its dark stores from 705 to 1,000 by March 2025.
Flipkart has implemented a new pricing policy that restricts sellers from setting their product listing prices, allowing the platform to determine final prices after applying discounts and fees. Sellers have raised concerns that this change may violate Indian FDI norms and could lead to anti-competitive practices, as it complicates price parity across platforms. Despite these allegations, Flipkart claims the policy aims to enhance seller profitability and reduce order cancellations caused by price fluctuations.
After a significant sell-off, the markets have shown signs of recovery, with the Sensex and Nifty rallying for five consecutive sessions. However, concerns remain as valuations are still high, and analysts predict muted returns for 2025, citing weak foreign institutional investor flows and a deceleration in growth momentum across sectors.
HSBC has initiated coverage on Swiggy with a 'Hold' rating, while Nuvama has given a 'Buy' recommendation for Zen Tech. Goldman Sachs is optimistic about Westlife, projecting a target of ₹1,045 per share, citing menu interventions and expected same-store sales growth recovery. Citi highlights potential catalysts in the oil and gas sector, including possible GST inclusion for gas and lower CNG excise, while Jefferies notes strong returns for Indian CRO/CDMO stocks, with upcoming legislative actions likely to impact volatility.
Shares of Zomato and Swiggy surged to record highs on December 5, following brokerage upgrades. CLSA raised Zomato's target price to Rs 370, predicting a 32% upside, while Bernstein noted Zomato's broader city presence. Swiggy's Q2 results showed a 30% year-on-year increase in B2C gross order value, with expectations of positive core earnings by December 2025.
PharmEasy continues to negatively impact Prosus’ India portfolio with an internal rate of return (IRR) of -38% in H1FY25, an improvement from -44% the previous year. In contrast, ElasticRun led with a 23% IRR, while Swiggy, PayU, and Meesho each reported 20-21%. Eruditus, despite a lower IRR of 14%, remains the only positive performer in the edtech sector for Prosus.
Swiggy's share price surged 7% to Rs 462, valuing the company at Rs 1.03 trillion, following UBS's initiation of coverage with a "buy" rating and a 12-month price target of Rs 515. UBS highlighted a significant valuation discount compared to Zomato, projecting Swiggy's GMV growth to align with Zomato's in the low-20s over FY24-27E, while improving margins are expected to reach 2.8% by FY27E.
Swiggy's share price surged 7% following UBS's initiation of coverage with a 'buy' rating, citing a price target based on discounted cash flow and multiples. Analysts noted that Swiggy's market share is stabilizing, with volume growth in 2024 aligning with industry trends and improving margins. They project Swiggy's GMV growth from FY24-27E to match Zomato's, with adjusted EBITDA margins reaching 2.8% by FY27E.
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