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.
Azad Engineering block deal: Nomura picks stake worth Rs 66 crore in this smallcap defence stock
Nomura acquired over 4.1 lakh shares in Azad Engineering for Rs 66 crore through a block deal at an 8% discount. Despite the investment, Azad’s