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Zomato’s Deepinder Goyal addresses ’future dated’ mushrooms found in warehouse: ’Were never going to make it to...’ | Company Business News

LivemintLivemint · 8m ago
Zomato’s Deepinder Goyal addresses ’future dated’ mushrooms found in warehouse: ’Were never going to make it to...’ | Company Business News
Medial

Zomato CEO Deepinder Goyal has addressed concerns about food safety after 90 packets of button mushrooms with a future packaging date were found at Hyperpure's warehouse in Hyderabad. Goyal attributed the issue to a manual typing error by the vendor and assured customers that Zomato maintains strict food safety standards. The incorrectly labeled mushroom packets were identified and rejected during an inward quality check, and the vendor responsible has been removed from Zomato's database. Goyal emphasized the company's commitment to maintaining rigorous guidelines and utilizing technology systems to prevent such errors in the future.

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Zomato joins Nifty 50 in index reshuffle

EntrackrEntrackr · 4m ago
Zomato joins Nifty 50 in index reshuffle
Medial

Zomato joins Nifty 50 in index reshuffle In December 2024, the Deepinder Goyal-led company made history as the first new-age tech company to join the Bombay Stock Exchange (BSE) Sensex 30. In a major reshuffle of the Nifty 50 index, Zomato and Jio Financial Services will replace Britannia Industries and Bharat Petroleum Corporation Limited (BPCL). This adjustment is set to take effect on March 31, 2025. The National Stock Exchange (NSE) determines such periodic rebalancing based on the average free-float market capitalization of companies over a six-month period, spanning from August 1 to January 31. This is a major milestone for new-age tech companies in India. As per a report by JM Financial, Zomato’s addition could bring in inflows of around $620 million, impacting nearly 226.6 million shares and influencing trading volumes for approximately 3.8 days. In December 2024, the Deepinder Goyal-led company made history as the first new-age tech company to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in the benchmark index of India’s top 30 companies. The Nifty Next 50 index is also set for a major reshuffle, with the inclusion of seven new stocks: Bajaj Housing, BPCL, Britannia, CG Power, Hyundai Motor India, Indian Hotels, and Zomato’s rival Swiggy. These companies will replace Adani Total Gas, BHEL, IRCTC, Jio Financial, NHPC, Union Bank, and Zomato. The Nifty Next 50 Index serves as a benchmark, representing the top 50 companies ranked between 51 and 100 based on market capitalization on the National Stock Exchange (NSE).

Zomato CEO Deepinder Goyal responds to ‘false claims just to sound cool’ netizen allegations; Here’s what happened | Company Business News

LivemintLivemint · 7m ago
Zomato CEO Deepinder Goyal responds to ‘false claims just to sound cool’ netizen allegations; Here’s what happened | Company Business News
Medial

Zomato's CEO, Deepinder Goyal, responded to a user's request for an auditor's report on the company's "offsets" to verify the impact of its plastic recycling project. Goyal provided a four-point response, including mentioning the ESG Factsheet, waste management agency data, EV-based deliveries data, and the ecosystem of EV players across India. He also highlighted the company's carbon neutrality efforts and its focus on achieving 100% EV-based deliveries by 2030. Goyal acknowledged concerns about electric two-wheeler infrastructure and financing facilities and emphasized ongoing collaboration with policymakers and industry players to address these issues. Zomato's shares closed slightly higher after the exchange.

Deepinder Goyal leaves Shark Tank as Swiggy becomes sponsor

EntrackrEntrackr · 9m ago
Deepinder Goyal leaves Shark Tank as Swiggy becomes sponsor
Medial

In a significant shift within the Indian startup landscape, Zomato’s CEO, Deepinder Goyal, announced on Saturday that he will not be returning as a judge for the upcoming fourth season of the popular reality show Shark Tank India. His decision marks a departure from his previous involvement in mentoring aspiring entrepreneurs on the show. This decision comes amid reports that Swiggy, Zomato’s main competitor in the food delivery space, will be sponsoring the new season of Shark Tank India. An ET report suggests that Goyal’s departure is linked to a strategic agreement that allows Swiggy, Zomato’s primary competitor in the food delivery market, to sponsor the upcoming season of Shark Tank India. A MoneyControl report added that Swiggy may spend Rs 25 crore to sponsor the new season. “I unfortunately can’t go back because Swiggy sponsored Shark Tank this time and kicked me out,” Goyal said at ET Startup Awards 2024 on Saturday. Goyal’s exit signifies a major change for the show, which has built a substantial following since he became a judge in season 3 last year. Queries sent to Zomato, Swiggy and Shark Tank did not elicit an immediate response. This development coincides with Swiggy’s impending debut on the stock exchange. In its recently filed draft red herring prospectus, Swiggy outlined that it plans to invest approximately Rs 930 crore in brand marketing and awareness. In other news, Swiggy launched a 10-minute food delivery service called Bolt in key locations across Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai, and Pune. The Bengaluru-based firm also officially launched its Swiggy XL EV fleet, a bulk order delivery service using electric vehicles, in Gurugram. Notably, Zomato had already launched its bulk delivery service earlier in April.

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