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Rapido in midst of 500-city expansion; mobility opportunity offers strong upside: Cofounder P Guntupalli

Economic Times

Economic Times · 5m ago

Rapido in midst of 500-city expansion; mobility opportunity offers strong upside: Cofounder P Guntupalli

Rapido, a ride-hailing app, plans to expand to 500 more cities in India, capitalizing on the significant mobility opportunity. Cofounder Pavan Guntupalli highlighted the app's current 33 lakh daily rides and its leadership in the two-wheeler and emerging three-wheeler and four-wheeler markets. Rapido emphasizes customized solutions to meet diverse city needs and intends to enhance growth without immediate plans for an IPO or overseas expansion, focusing instead on India's substantial market potential.

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Rapido launches affordable intra-city mobility solution with Rapido Cabs, disrupting urban commuting with a SaaS-based platform driving zero commission for drivers

Startup News FYI

Startup News FYI · 1y ago

Rapido launches affordable intra-city mobility solution with Rapido Cabs, disrupting urban commuting with a SaaS-based platform driving zero commission for drivers

Rapido, India's leading commute app, has announced its entry into the cab business with the launch of Rapido Cabs. With a fleet of 1 lakh vehicles, Rapido aims to provide an affordable intra-city transport solution while promoting entrepreneurship among cab drivers. The innovative SaaS-based platform offers a zero-commission model for drivers, ensuring they receive the entirety of their service value. Customers also benefit from competitive fares, making transportation more accessible for all. Rapido's expansion into cab services is part of its mission to revolutionize urban mobility.

Rapido to launch Pink bikes for women; employ 25,000 females

Economic Times

Economic Times · 6m ago

Rapido to launch Pink bikes for women; employ 25,000 females

Rapido, a Bengaluru-based ride-hailing service, plans to launch an all-women "Pink bikes" initiative in Karnataka by 2025, targeting 25,000 female jobs by deploying women drivers for female passengers. This initiative aims to create a safe, empowering environment for women in the workforce. According to Rapido's co-founder, Pavan Guntupalli, women without advanced skills can access these opportunities, with 35% of the workforce from smaller towns. This strategic move also enhances shared mobility services.

As earnings loom, Nvidia options traders brace for monster share move

Reuters · 1y ago

As earnings loom, Nvidia options traders brace for monster share move

Traders in the U.S. equity options market are anticipating a massive move in Nvidia's shares following the company's upcoming earnings report. Options traders have priced in an expected swing of about 11% in either direction, which is the largest expected move in the last three years. This could result in a potential swing in market value of about $200 billion, exceeding the market value of chipmaker Intel Corp and most S&P 500 constituents. Despite the stock's significant run-up, demand for upside options bets on Nvidia remains strong.

Rapido announces first ESOP liquidity program

Entrackr

Entrackr · 6m ago

Rapido announces first ESOP liquidity program

Rapido announces first ESOP liquidity program Ride-hailing firm Rapido has announced its first-ever Employee Stock Ownership Plan (ESOP) liquidation program for its current and former employees. Through this initiative, employees are eligible to sell a portion of their vested ESOP units immediately. Founded in 2015 by Aravind Sanka, Pavan Guntupalli, and SR Rishikesh, Rapido operates on a peer-to-peer (P2P) model, connecting customers in need of a quick, affordable ride with independent two-wheeler riders, or captains. In September last year, Rapido achieved unicorn status after securing $200 million in a Series E funding round led by WestBridge Capital. It has raised more than $500 million to date. Rapido’s revenue from operations grew 46.3% to Rs 648 crore in FY24 from Rs 443 crore in FY23. The firm also reduced its losses by 45% to Rs 371 crore. According to Rapido, its streamlined cost structure contributed to a reduced quarterly loss of Rs 17 crore in Q2 FY25 from Rs 74 crore in Q2 FY24.

Citi Initiates Coverage On Mamaearth With ‘Buy’ Rating, Sees 24% Upside

Inc42 · 1y ago

Citi Initiates Coverage On Mamaearth With ‘Buy’ Rating, Sees 24% Upside

Mamaearth's parent company, Honasa Consumer Ltd, has received a 'buy' rating from brokerage firm Citi Research. Citi expects the company to outperform in terms of growth due to its strong brand positioning and market opportunity. It has set a price target for Honasa of INR 550, representing a potential upside of 24%. The brokerage also noted that Honasa's innovative products, expansion into new categories, and margin expansion are positive factors for its long-term success. Mamaearth saw a 264% increase in net profit in Q3 FY24, with its revenue expected to grow at a 25% CAGR over the FY24-FY26 period.

WestBridge Capital-backed Rapido to ride in with services to 500 cities, up from 120 now

Economic Times

Economic Times · 7m ago

WestBridge Capital-backed Rapido to ride in with services to 500 cities, up from 120 now

Rapido, a WestBridge Capital-backed mobility startup, plans to expand its services to 500 cities from over 120, beginning February. It will initially target regions like Karnataka and Gujarat, later extending to other areas. Known for its two-wheeler, three-wheeler, and cab services, Rapido recently reported a 46% revenue increase and narrowed losses. The company, which raised $200 million last year, is also entering the quick commerce delivery sector using its two-wheeler fleet.

Bank Of Baroda share are down by -0.49%, Nifty down by -0.1% | Mint

Livemint

Livemint · 11m ago

Bank Of Baroda share are down by -0.49%, Nifty down by -0.1% | Mint

As of 05 Sep, Bank of Baroda shares are trading at ₹242.25, down 0.49% from the previous closing price. The stock is below short and long term moving averages. Pivot analysis shows key resistances at ₹247.92, ₹252.23, and ₹255.02, and key support levels at ₹240.82, ₹238.03, and ₹233.72. Volume traded is slightly higher than the previous session. The stock is in a strong downtrend. Fundamentally, the company has a ROE of 16.70%, P/E of 6.61, and P/B of 0.98. Median 1-year forecasted upside is 18.91%. Promoter holding is 63.97%, MF holding is 5.84%, and FII holding is 11.45%.

Mobility startup Rapido set to expand to 500 cities

YourStory

YourStory · 7m ago

Mobility startup Rapido set to expand to 500 cities

Rapido, a ride-hailing platform, plans to expand its services to 500 cities from its current 120, starting with Karnataka, Gujarat, Tamil Nadu, West Bengal, and Rajasthan. The expansion, beginning in February, will later extend to new states like Punjab and Haryana. With support from WestBridge Capital and a $200 million Series E funding round making it a unicorn, Rapido facilitates 3.6 million daily rides, competing with major players like Uber and Ola.

US Markets recover from previous losses amid rate cut expectations; GIFT Nifty declines

Money Control

Money Control · 1y ago

US Markets recover from previous losses amid rate cut expectations; GIFT Nifty declines

Global markets traded positively on February 29th, driven by expectations of rate cuts in the US during the first half of the year. The S&P 500 and Nasdaq both saw gains, while the Dow traded slightly lower. The GIFT Nifty traded flat to mildly negative despite strong Q3 GDP growth, as concerns about the sustainability of economic expansion persisted. The German Dax saw bullish movement, while other European markets had mixed performance. Asian indices experienced marginal declines, but Indian indices ended the session positively after high volatility. Oil prices remained positive.

Analysts initiates coverage on this Jhunjhunwala stock; see upto 80% uspide

Business Today

Business Today · 5m ago

Analysts initiates coverage on this Jhunjhunwala stock; see upto 80% uspide

Domestic brokerage firms Nuvama and JM Financial have initiated coverage on a recently-listed stock linked to famed investor Jhunjhunwala, projecting an upside potential of up to 80%. This suggests strong market confidence and anticipated growth, highlighting the stock as a notable investment opportunity. The coverage by reputable firms underscores the potential value increase, catching the attention of investors seeking promising stocks in the market with substantial returns.

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