Discover the top business headlines that are trending across the world today!
Benchmark indices declined in early trading on Friday, reversing gains from the previous session's rally. IT, pharma, and banking stocks led the downward trend.
The S&P BSE Sensex dropped 452.52 points to 79,491.29, while the NSE Nifty50 fell 93.25 points to 24,095.40 by 9:42 AM. Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted that Thursday’s 445-point Nifty surge was fueled by short-covering in select undervalued stocks and upbeat auto sales figures.
Oil and Natural Gas Corporation gained 2.55%, leading the top performers, followed by Trent Limited (+1.68%) and Titan Company (+1.29%). Hero MotoCorp (-2.19%) and Tech Mahindra (-1.66%) were among the major laggards.
Sectorally, Nifty IT fell 1.09%, while Nifty Media rose 1.57%. Vijayakumar noted that macroeconomic factors like a strong dollar index and high U.S. bond yields pose challenges for sustained FII buying, despite positive signals in large-cap stocks.
Blinkit has launched its "ambulance in 10 minutes" service to improve emergency medical access. CEO Albinder Dhindsa announced on X that the initiative began with five ambulances in Gurugram. Users can soon book Basic Life Support (BLS) ambulances via the Blinkit app as the service expands.
These ambulances are equipped with essential life-saving tools like oxygen cylinders, AEDs, monitors, and emergency medicines, staffed by a paramedic, assistant, and trained driver to ensure high-quality emergency care. Dhindsa emphasized that the service prioritizes affordability and efficiency over profit.
The company aims to expand the service to more cities within two years. "Always make way for ambulances—you might save a life," Dhindsa urged.
Owned by Zomato, which acquired Blinkit (formerly Grofers) in 2021, the company has strengthened its quick-commerce offerings. Zomato's stock recently rose 3.02%, closing at ₹284.85 on the NSE, with a market cap of ₹2,66,832 crore.
India's investment banking revenue reached $1.3 billion in 2024, reflecting a 1% rise from the previous year, according to LSEG’s Deals Intelligence. Equity capital markets (ECM) fees surged 80% to $645.2 million, marking the highest annual total since 2000. Debt capital markets (DCM) also grew, with fees increasing 5% to $261.2 million. However, syndicated lending fees dropped 43% to $138.3 million, while M&A advisory fees fell 42% to $250.7 million, signaling cautious market sentiment.
Kotak Mahindra Bank led investment banking rankings with $92.8 million in fees. Deal volume hit a record 2,756 transactions, up 3.3%, but deal value dropped 11.4% to $80.5 billion, with smaller deals dominating. Domestic M&A rose 14.4% in deal count but declined in value. Inbound and outbound M&A grew 18.7% and 30.3%, respectively. Key sectors included Industrials, Healthcare, and Financials, though most saw value declines. Private equity-backed M&A fell to its lowest since 2017.
Zepto, a quick commerce unicorn, has established a new entity, Zepto Marketplace Private Limited, to streamline its operations in preparation for its anticipated IPO, sources confirmed. The entity was registered on October 22, 2024, according to reports.
Currently operating under a business-to-business (B2B) model, Zepto sources products directly from brands through Kiranakart Technologies. These products are sold to its licensee firms, Geddit Convenience, Drogheria Sellers, and Commodum Groceries, which further distribute them via a licensing agreement.
In contrast, competitors like Blinkit and Swiggy Instamart adopt a marketplace approach. For instance, Blinkit’s intermediaries procure goods from brands and supply them to B2C sellers, while Swiggy Instamart employs a similar B2B-to-B2C distribution system.
Zepto, holding the second-largest market share, has enlisted investment banks for its IPO, expected in late 2025. Meanwhile, Blinkit and Instamart are already publicly listed entities.
