Zomato and Swiggy shares increased as they removed the rain surcharge waiver from membership programs, impacting even paying subscribers. This move aims to support delivery partners during adverse weather and enhance profitability, especially with losses in quick commerce. Zomato’s food delivery EBITDA rose 55% YoY, while Swiggy’s jumped fivefold, highlighting the sector’s importance.
Gold poised for weekly loss as US delays decision on Middle East involvement
Gold prices remained stable on Friday but are set for a weekly loss as President Trump delayed a decision on intervention in the Israel-Iran conflict.