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Swiggy Instamart is enhancing its pharmacy services by partnering with PharmEasy to offer 10-minute medicine deliveries, aiming to increase average order values and profitability. Initially piloted in Bengaluru, the service will include both over-the-counter and prescription medications, with prescriptions uploaded by customers or generated during consultations.
Amit Jain, co-founder of Ashika Global Family Office Services, identifies IT, Pharmaceuticals, FMCG, Real Estate, and Defence as overvalued sectors, advising against investments in them. He sees potential in PSU and PSU banks for medium to long-term value investing. The current market faces challenges from weak earnings, geopolitical tensions, and domestic issues, leading to a bearish sentiment and potential further declines in the Nifty 50. While the IPO landscape may improve in 2025, the ongoing correction could delay high-profile offerings.
Swiggy has revised its IPO valuation target to $12.5 billion-$13.5 billion, a reduction of 10-16% from the previous $15 billion estimate, due to recent market volatility. The food delivery giant plans to conduct roadshows in various Indian cities starting October 30 for its $1.4 billion offering, which is set to be the second largest IPO in India this year. The decision comes amid a downturn in the Indian stock market, with the Nifty 50 index experiencing significant losses.
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Swiggy Instamart partners with PharmEasy for rapid medicine deliveries in Bengaluru
13:29 25.10.2024
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03:35 25.10.2024
Swiggy lowers IPO valuation amid market volatility to 12.5 billion dollars
13:55 24.10.2024
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