ZOMATO CONTROVERSY
Hemang Jani on 7 bank and FMCG stocks to look at now
Among the FMCG companies, Hemang Jani at this point would be looking at Marico or Dabur. Both have come out with a reasonably good set of numbers. Also, post that controversy, Nestle looks quite compelling in terms of the valuations. Among platform companies, Zomato and Policybazaar are showing much better traction in terms of overall parameters.
Food delivery companies lean on existing users for growth
In light of a slowdown in new user signups, Zomato and Swiggy are implementing strategies to increase order frequency among their existing customer base. This approach aims to drive growth despite the challenges in user acquisition.
Food delivery cos bet on existing users; Infosys CEO interview
Happy Tuesday! With user growth stagnating, Zomato and Swiggy are prodding existing customers to order more. This and more in today’s ETtech Morning Dispatch.
Hyderabad man finds lizard in chicken biryani. Zomato replies
Unfortunately, this incident is not isolated. Earlier this year, Mumbai's Papa Pancho Da Dhaba faced controversy when a rat was found in a chicken dish. A similar incident occurred in Ludhiana, Punjab, in July, where a family discovered a rat in their chicken dish at Ludhiana's Parkash Dhaba near Vishwakarma Chowk.
Twinkle Khanna weighs in on Zomato's 'Pure Veg' controversy: 'They did what successful entrepreneurs are meant to do'
Twinkle Khanna, also known as Mrs Funnybones, has offered her insights on Zomato's decision to launch a 'pure veg' delivery service. While she acknowledges Zomato's entrepreneurial approach, she raises concerns about the cultural implications of such categorizations. Khanna emphasizes the power of words and urges for thoughtful communication, highlighting the complexities of dietary preferences and cultural sensitivities in India.
Who is Grecia Munoz? Zomato CEO Deepinder Goyal's second wife
Zomato CEO Deepinder Goyal has married former model Grecia Munoz, who is also an entrepreneur. The couple returned from their honeymoon in February. Munoz, originally from Mexico, now resides in India and is involved in television hosting and running her startup focusing on luxury consumer products. Goyal, a prominent figure in India's startup scene, had been in a relationship with Munoz for some time. This marks his second marriage. Goyal founded Zomato in 2008 and recently announced plans to launch a 'pure veg' service in response to customer feedback, which generated some controversy.
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Why Zomato launched 'Pure Veg Fleet' service? CEO Deepinder Goyal clarifies amid social media criticism
Zomato introduced a new service called 'Pure Veg Mode' alongside a dedicated 'Pure Veg Fleet' to cater to vegetarian customers, with CEO Deepinder Goyal citing the need to maintain the integrity of vegetarian orders due to food spillage issues. While some praised the move, others criticized it, expressing concerns about potential discrimination based on delivery personnel's dietary choices. Goyal assured addressing any negative social repercussions and hinted at future specialized fleets.
Viral Video: Zomato delivery guy takes horse ride in Hyderabad as fuel runs out at petrol pumps
Zomato viral video: In the video, the delivery agent explains to a passerby that he resorted to horseback delivery as petrol was unavailable. The horse-rider shared, "Petrol nahi mila bhai. Teen ghante line me khada raha. Zomato se nikal gaya...petrol nahi mila (There was no petrol. I waited in the queue for three hours. I left after taking the order but couldn't get the petrol)."
Not on the GST menu
In November, Zomato, holding the largest market share in the country's online food delivery sector, received a GST notice of ₹400 crore from the Directorate General of GST Intelligence (DGGI). Swiggy has been served a GST notice of ₹350 crore. This controversy will persist till the courts provide clarity on the issue.
Reality check: How deepfake tech is reshaping advertising norms
Not all is dark about AI-generated fake images and videos. Some companies are putting the tech to non-controversial creative use.
Mamaearth parent Honasa Consumer sees IPO going in the right direction
Honasa Consumer’s Rs 1,700 crore IPO opened for public subscription on Tuesday. It is offering the shares at a price band of Rs 308-324 each.
Zomato faces backlash for tagging Gurugram Police in 'Banana Chips' post on social media
Zomato faced backlash for tagging Gurugram Police in a social media post about banana chips. The post implied that banana chips were like drugs, which sparked outrage. Zomato quickly deleted the post and apologized. Users criticized the company for wasting police resources and using the police handle for attention.
There is comfort in IndiGo, opportunity in Zomato: Hemang Jani
Zomato and technology stocks, including IT platforms, hold potential for strong growth in the next two to three years due to settling issues and better management. Hemang Jani, an independent market expert, says that IndiGo has gained market share and is shifting from a pure aviation play to a consumer bet due to India's growing middle class and expanding airports. Meanwhile, Escorts is benefiting from its business diversification and a growing tractor market in India.
Be prepared. We’re just at the beginning of the market party: Shankar Sharma
Shankar Sharma believes in buying bottom-up companies that interest him, regardless of the sector they belong to. He cites some interesting logistics and visa processing companies, as well as those in the services and manufacturing sectors, as key areas of investment. Sharma is not interested in new-age listings, such as Zomato, due to a preference for good valuation comfort. He stated that we are at a fantastic point in the market, as we are seeing all-time highs, and says the party will be long, hard and strong.
NCSC issues notice to Zomato over controversial 'Kachra' ad
The National Commission for Scheduled Castes (NCSC) has issued a notice to restaurant aggregator Zomato over a controversial ad which showed actor Aditya Lakhia, who played the Dalit character Kachra in the film "Lagaan", as items made of recycled waste. The NCSC also asked the Delhi Police commissioner and the resident grievance officer of YouTube to investigate the matter.
Zomato in a soup over new ‘Kachra’ campaign, deletes ad after getting slammed on Twitter for being ‘casteist’
As the character (played by Aditya Lakhia) is shown to be a member of an oppressed ‘untouchable’ community, the Zomato campaign has received intense backlash from netizens.
ETMarkets Smart Talk: India to enter manufacturing decade; renewables sector likely to be next wealth-creator, says Arvind Kothari
The Indian manufacturing sector is expected to witness significant growth in the upcoming years due to the government's focus on the sector, according to Arvind Kothari, the Founder of Niveshaay. Kothari expects renewable energy, recycling, and electronics manufacturing to emerge as promising potential wealth creators for the decade. In contrast, companies with poor cash flow and low visibility in earning growth could underperform in FY24, despite a strong earnings recovery season in Q4 anticipated.
ETMarkets Smart Talk: FIIs are also exploring opportunities in small- and mid-cap space: Ramkumar K
Sheer economic challenges may bring inflation down, and, in turn, will force Central Banks to hold and reduce rates. Such an economic scenario does not favour equities and corporate earnings.
ETMarkets Smart Talk: Indian market likely to do well in the run-up to general election in 2024: Gaurav Dua
Fundamentally, the valuations had turned at 16,800-17,00 level with PE of 17.5-18x FY24 earnings and continued healthy double-digit growth in earnings despite rapid rate hikes and uncertainties globally.
Virat Kohli gives hilarious reaction after getting meals during India vs Australia test; netizens speculate, "Is it Chole Bhature"
Virat Kohli's hilarious reaction to receiving food has gone viral on the Internet. His fans believe it could be none other than the cricketer’s favorite chole bhature.
Fintechs, RBI consult over FLDG rules; restaurants explore options as Zomato Gold returns
Following the release of the Reserve Bank of India’s (RBI’s) new digital lending rules, fintechs in India have been in continuous consultation over first loss default guarantee (FLDG) arrangements. Today we have new details of the conversations between the central bank and fintechs on this hot bottom issue. More details in the ETtech Morning Dispatch.
As Zomato restarts Gold, NRAI advises restaurants to step up own loyalty programmes
Restaurant industry body National Restaurants Association of India (NRAI) is sending advisories to restaurants to step up their own loyalty programmes on discounts through other apps, while many large companies said they are not on Gold.
India withdraws UN proposals on fighting cybercrime; Zomato shuts 10-min food delivery
The policy document was withdrawn after it failed to find adequate support from other member nations of the UN Ad-Hoc committee, sources said. The grouping has been tasked with creating a comprehensive international convention to counter the use of information and communications technologies for criminal purposes.
'Not a boomer anymore': Zomato CEO Deepinder Goyal makes Instagram debut with a series of 'me-made' posters
The enterpreneur finally made his Instagram debut.
Twitter 'un-fires’ dozens of workers; Zomato Pay goes live in some cities
Days after laying off close to half its workforce, Elon Musk’s Twitter has decided to ask dozens of sacked employees to return after realising they were fired by mistake or could be crucial to manifesting Musk’s vision of the platform. The chaos is reminiscent of the Tesla CEO’s on-again-off-again takeover of the social media company, which dragged on for months.
Zomato issues apology over Hrithik Roshan's 'Mahakal thali' ad
Zomato's statement comes after priests and devotees of Ujjain's Shree Mahakaleshwar Temple demanded immediate withdrawal of the particular advertisement in which Hrithik was seen ordering food from 'Mahakal' when he felt like having a 'thal
The lessons we learnt from 2021’s controversies
2021 — also known as the year of the brouhaha, when the advertising and marketing sector faced a fair share of storms. Industry vets tell ET what they learnt from some squalls.
Zomato responds to ad controversy; Ola chooses banks for IPO
Ola has chosen three banks — Kotak Investment Banking, Citigroup and Morgan Stanley — to manage its $1-billion IPO. PhonePe has received an insurance broking licence from the industry regulator.
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