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Budget 2026 comes at a precarious time for markets, says Radhika Gupta

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Budget 2026 comes at a precarious time for markets, says Radhika Gupta
As India heads into a crucial Union Budget, market participants are weighing whether policy measures can stem recent capital outflows and revive investor confidence. Speaking to ET Now, Edelweiss Mutual Fund MD and CEO Radhika Gupta said the Budget is arriving at a particularly delicate juncture, with global uncertainties, tariff concerns, and volatile asset class movements shaping investor sentiment.

On whether the Budget can reverse foreign outflows, Gupta struck a cautious tone.

“I do not know if this budget can do too much to turn outflows into inflows outside of long-term capital gains on FPIs. But it is coming at a very tricky time. It is coming at a time when you have done a lot already in the previous financial year to bring back growth. You are probably seeing some signs of that in earnings, but you also have what I call a tariff threat that has been looming over the last one year. A trade deal that is not done. So, it is a very precarious time. So, I actually want to know what rabbits are going to be pulled out of the hat this year. It is a very-very tricky time.”

She added that the absence of major elections could give the government more room to increase capital expenditure.

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“The good thing is you might have less revenue expenditure and more capital expenditure this year, as you said, because they can afford to get away with it. You also do not have any major elections this year. So, this might be a time when you can dial up capex, which you did not last year.”


ET Now highlighted the growing challenges for capital markets, noting that despite an 8% rise in the Nifty between last budget and this one, recent performance has lagged global peers. The channel also pointed to concerns around capital inflows, the rupee, and sharp moves across asset classes, underlining the need for a multi-asset investment strategy.
Gupta agreed that recent months have been unsettling for investors across the board.“The month of January itself has been really spooky for investors and not just for equity investors, even for bond investors. So, if you look at the corporate bond index, that is down over the last month. And just when you thought gold and silver were okay till the end of the month, you had the last day of the month where silver apparently has had its largest move in the last 200 years, actually more than the Hunt brothers crash. So, you have also seen very-very volatile asset class movements ahead of you.”

With limited fiscal headroom and the need to support growth, the focus is expected to remain on capital spending. Gupta said defence, infrastructure, and manufacturing are likely to remain priority areas.

“I think people will want to continue to see defence. I think both the whole Atmanirbharta defence theme has to continue and carry on. Infrastructure push which has been outlined in the last few budgets will continue. PLI has to be expanded.”

She also stressed the importance of job creation and technology-linked sectors.

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“Another big theme of the past few budgets has been the whole element of jobs, and we have a young demographic. We are seeing a number of challenges in the job market. I mean, IT salaries have not grown in the last 20 years. So, is there a scope for PLI and AI, PLI and some of the technology-linked sectors? I think that you cannot get away jobs from this whole thing.”

On manufacturing and the effectiveness of policy support, Gupta described the Production-Linked Incentive (PLI) scheme as a mixed bag.

“I think PLI has been a mixed bag. It has worked in some sectors. So, it has worked in electronics. It has worked in mobile phones. It has been difficult in textiles. It has been patchy in chemicals. So, PLI has been a mixed bag, but it has been a positive experiment.”

She added that structural reforms will remain key going forward.

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“Labour and land has always been a question mark. This year we have done work on labour. Now, what you can do in terms of land reforms, MSME credit, those are some of the spaces perhaps you may want to look at.”

Gupta also ruled out major changes to capital gains taxation this year, suggesting the government’s policy levers are more limited compared to the previous budget.

“I do not think capital gains is going to get tinkered this year. I do not think you can do very much with that. So, the levers you have in hand are much lower this year. I feel last year you had a lot of tools that you could use, direct tax, indirect tax, all of that has been exhausted.”

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Will 2026 World Cup Be Cristiano Ronaldo’s Last?

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Cristiano Ronaldo and Portugal begin their Euro 2020 title defence against Hungary in Budapest

LISBON, Portugal — Cristiano Ronaldo has repeatedly confirmed that the 2026 FIFA World Cup, set for June-July across the United States, Canada and Mexico, will be his final appearance in the tournament. The Portuguese superstar, who turns 41 in February 2026, stated unequivocally in late 2025 interviews that the expanded 48-team event will mark the end of his World Cup journey, though he remains committed to playing at a high level with Al Nassr and Portugal in the lead-up.

Cristiano Ronaldo and Portugal begin their Euro 2020 title defence against Hungary in Budapest

In a November 2025 CNN interview at the Tourise Summit in Riyadh, Saudi Arabia, Ronaldo addressed the question directly: “Definitely, yes, because I will be 41 years old and I think that will be the moment in the big competition.” He reiterated that retirement from football overall would come “soon,” clarifying it as “probably one or two years” after the tournament. Similar comments appeared in outlets like BBC Sport, Sky Sports, ESPN and Al Jazeera, where he emphasized enjoying the present while acknowledging age as a factor.

Ronaldo’s stance has held steady into 2026. As of March 2026, no reversal or new statements contradict his earlier declarations. Portugal qualified comfortably for the finals, with Ronaldo contributing five goals during the UEFA qualifying phase. Recent reports, including from Sports Illustrated in January 2026, affirmed he “will play at the 2026 World Cup” but described it as his “final international tournament.” The consensus across major sports media — including Fox Sports, CBS Sports and Yahoo Sports — positions the event as his sixth and last World Cup, a record for any player.

A minor injury scare surfaced in early March 2026 when Ronaldo was substituted in the 81st minute during an Al Nassr match due to a muscle issue, prompting speculation in outlets like SportBible about potential risks to his 2026 readiness. However, no long-term concerns emerged, and he has continued featuring regularly in Saudi Pro League action. Al Nassr’s medical updates indicate recovery without setbacks, aligning with his goal to arrive fit for Portugal’s campaign.

The 2026 tournament holds special significance for Ronaldo. He has scored in five consecutive World Cups — a unique feat — and holds the all-time international scoring record with 143 goals (as of late 2025 figures, with additions possible in friendlies or remaining qualifiers). Despite never winning the World Cup, Ronaldo has downplayed its singular importance to his legacy. In a November 2025 Piers Morgan interview, he said winning it “isn’t a dream” and wouldn’t solely define him as one of history’s greatest, given his club achievements, Ballon d’Or wins and goal tallies.

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Portugal enters the finals as a strong contender, bolstered by a talented squad including Bruno Fernandes, Bernardo Silva and younger stars. Ronaldo’s role may shift toward leadership and impact off the bench or in targeted spells, given his age and physical demands. Coach Roberto Martínez has expressed confidence in his captain’s contributions, and Ronaldo’s work ethic — maintaining elite fitness at Al Nassr — supports expectations he will feature prominently.

The expanded format offers more matches and potential for deeper runs, raising hopes among fans for a fairy-tale ending. Discussions on platforms like YouTube and social media speculate on scenarios where Portugal lifts the trophy with Ronaldo as the hero, potentially reshaping the GOAT debate with Lionel Messi (who won in 2022). Ronaldo has dismissed retirement pressure, focusing on enjoyment and family time post-career.

Recent off-field activities reinforce his ongoing commitment. In February 2026, reports noted Ronaldo investing nearly $8 million in new projects ahead of the tournament, signaling preparation rather than wind-down. He denied full retirement rumors, stating he aims to play “for the next couple of years” beyond club duties.

As the World Cup draw approaches (scheduled for December 2025 but with updates ongoing into 2026), anticipation builds for what many view as Ronaldo’s farewell stage. At 41, defying conventional timelines, his participation would extend an extraordinary international career spanning over two decades.

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Whether Portugal advances far or Ronaldo adds to his goal record, the 2026 World Cup appears set as his final chapter on the global stage. Fans worldwide await what could be emotional, historic moments from one of football’s most iconic figures.

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‘Reacher’ Star Faces Alleged Assault Incident as ‘War Machine’ Tops Netflix Charts

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Alan Ritchson

Alan Ritchson, the towering actor best known for portraying Jack Reacher in Prime Video’s hit action series, found himself at the center of controversy on March 22, 2026, after video surfaced allegedly showing him assaulting a neighbor in Tennessee in front of children. The incident, reported by TMZ, has drawn widespread attention amid Ritchson’s rising profile, fueled by the massive success of his Netflix sci-fi thriller “War Machine” and upcoming developments in “Reacher.”

Alan Ritchson
Alan Ritchson

The altercation reportedly occurred Sunday in a residential neighborhood. According to the complainant, identified as Taylor, Ritchson allegedly sped through the area multiple times, once with two young children on motorbikes. On the day in question, Taylor confronted Ritchson, leading to a physical scuffle captured on video. The footage appears to show Ritchson striking the neighbor repeatedly. No arrests or charges have been confirmed as of March 23, and Ritchson’s representatives have not issued a public comment. The video’s release has sparked debate on social media, with some fans defending the actor’s actions as self-defense while others criticize the escalation.

The timing coincides with Ritchson’s career peak. His Netflix film “War Machine,” released March 6, 2026, has dominated streaming charts, holding the No. 1 spot for nearly two weeks and officially becoming the most-watched Netflix movie of the year so far. Directed by Patrick Hughes and positioned as Netflix’s sci-fi answer to “Predator,” the film follows Army Ranger recruits hunted by an extraterrestrial killing machine during a final training mission. Ritchson stars as a haunted combat engineer leading the unit.

Early reviews praised the high-energy action, practical stunts and Ritchson’s physical presence. A behind-the-scenes featurette highlighted grueling sequences, including Ritchson undergoing Ranger Assessment and Selection Program (RASP) bootcamp simulations, dragging co-stars through mud and navigating glacial rapids. Collider and other outlets noted its record-breaking debut, surpassing January’s “The Rip” starring Matt Damon and Ben Affleck. Discussions of a sequel have intensified, with Ritchson and Hughes confirming ideas for continuation.

The success builds on Ritchson’s momentum from “Reacher,” Prime Video’s flagship action series based on Lee Child’s novels. In a Collider interview promoting “War Machine,” Ritchson confirmed “Reacher” Season 4 wrapped production and will premiere on Prime Video in 2026. “It’s by far the best season we’ve had yet,” he said, teasing roughly 30 fight sequences across eight episodes — a franchise record. The season adapts “Gone Tomorrow,” one of Child’s most acclaimed entries, promising intense action and character depth.

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A “Reacher” spin-off centered on Frances Neagley, played by Maria Sten, has also completed filming, with Ritchson expected to appear. No specific dates have been announced for either project, but the updates have thrilled fans awaiting more from the muscular, no-nonsense hero.

Ritchson’s path to stardom accelerated with “Reacher,” which launched in 2022 and quickly became Prime Video’s most-watched series. His 6-foot-3, 235-pound frame and commitment to practical stunts — often performing his own fights — have made him a go-to action lead. Previous roles include Aimes in “Fast X” (2023) and comedic turns like “Playdate” with Kevin James. Upcoming credits include “Motor City” and an untitled Amazon MGM Studios project as Navy SEAL Mike Thornton, plus “The Man with the Bag,” listed as completed.

Off-screen, Ritchson maintains a low-key family life. He married high school sweetheart Catherine in 2006 after meeting in a ballet class. The couple shares three sons: Calem (born 2012), Edan (2013) and Amory (2015). For years, they lived nomadically in Airbnbs and hotels to stay together during filming, but recent reports indicate they’ve settled more permanently, with the children in school and Ritchson traveling solo for work. He frequently shares humorous family moments on social media, including the chaos of raising boys and tattoos honoring them.

The Tennessee incident has overshadowed these positives for now. Legal experts suggest potential charges could range from assault to disorderly conduct, depending on investigation outcomes. Ritchson’s clean public image — often described as humble and family-oriented — contrasts sharply with the allegations, prompting calls for more details.

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As “War Machine” continues streaming dominance and “Reacher” Season 4 approaches, Ritchson’s star power remains undeniable. The actor, 43, has transformed from supporting roles in shows like “Smallville” and “Blue Mountain State” to leading major franchises. His dedication to fitness and authenticity in action roles has earned praise from co-stars and directors.

Fans await resolution on the neighbor dispute while anticipating more high-octane performances. Whether defending himself or facing consequences, Ritchson’s 2026 trajectory — marked by blockbuster streaming success and franchise expansions — positions him as one of Hollywood’s premier action stars.

With “Reacher” loyalists counting down to Season 4 and “War Machine” sparking sequel buzz, the year promises continued momentum, even amid personal headlines.

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Grace Forrest ramps up anti-slavery fight

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Grace Forrest ramps up anti-slavery fight

Australia appears to have fallen behind other nations in the global fight against modern slavery.

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Columbia Income Opportunities Fund Q4 2025 Commentary (AIOAX)

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Columbia Income Opportunities Fund Q4 2025 Commentary (AIOAX)

Columbia Threadneedle Investments is a leading global asset management group that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients around the world. Columbia Threadneedle Investments is the global asset management group of Ameriprise Financial, Inc. (NYSE: AMP). For more information please visit columbiathreadneedleus.com.

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Benchmark bond yield rises to 14-month high amid crude price worries

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Benchmark bond yield rises to 14-month high amid crude price worries
Indian benchmark bond yield rose to a 14-month high on Monday, possibly due to surge in Brent crude oil prices amid escalating conflict in the Middle east.

The 10-year government bond yield was trading at 6.8173 per cent around 11 am on Monday, as compared to Friday’s close of 6.737 per cent. The yield is highest since January 14, 2025, according to the data compiled from market participants.

“Bond yields are rising in response to crude oil prices climbing above USD 110 amid escalating tensions between the US-Israel and Iran. Foreign institutional investors who were net buyers of government bonds in January and February, have also turned net sellers in March,” said Mataprasad Pandey, vice-president at Arete Capital (Choice Group).
He added that higher crude prices are not only fuelling inflation concerns but also putting pressure on India’s trade and current account balances, which is a big negative for the already depreciating rupee moving towards 94.
“These factors not only dampen expectations of a rate cut but raise the possibility of a rate hike if geopolitical tensions persist for long. As a result, increased supply relative to demand is weighing negatively on bond prices,” he added.


The conflict in the Middle East has entered into the fourth week, which led to a sharp surge in the Brent crude oil prices in the international market, which stoked a fear of higher inflationary pressure.
Oil prices rose sharply after Iran said it would strike energy and water systems of its Gulf neighbours if US President Donald Trump followed through with a threat to hit Iran’s electricity grid in 48 hours.Brent crude oil prices are trading at USD 112.66 per barrel. It has risen nearly 50 pet cent since the conflict started late in February.

Higher crude oil prices have also put pressure on the rupee, which also dampened sentiments of traders and investors in the market.

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The rupee is trading at 93.9075 against the US dollar, which was up 20 paise since previous close.

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Manchester’s Victoria North named in Government list of seven new towns

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Business Live

The 15,000-home development is already underway with first residents having moved into new council homes in Collyhurst

Victoria North, Manchester, would see huge redevelopment in Collyhurst and around

Victoria North, Manchester, would see huge redevelopment in Collyhurst and around (Image: Sean Hansford | Manchester Evening News)

Manchester’s massive Victoria North development has been included in a Government list of seven ‘new towns’, hailed as the ‘most ambitious housebuilding programme in more than half a century’.

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Victoria North, set to see 15,000 homes constructed across 390-acres of land, is already well into its development phase, with initial plans having surfaced seven years ago. Last year it hit a significant milestone when the first residents moved into their brand new council homes in Collyhurst.

This weekend the Government revealed that the National Housing Bank will commence operations on April 1, and will be supported with up to £16bn of financial capacity, aiming to deliver over 500,000 new homes.

The regeneration scheme will result in up to 15,000 new homes being built between Victoria Train Station and Queen’s Park in Collyhurst over the next 15 years across seven new and existing neighbourhoods. Each neighbourhood will be connected by high quality green spaces that will enhance and celebrate the River Irk, reports the Manchester Evening News.

Andy Burnham, the Mayor of Greater Manchester, said: “We are glad to see Victoria North getting this backing from the Government. It is one of the UK’s most ambitious regeneration projects right at the heart of its fastest-growing city-region. Victoria North will see the building of 15,000 new homes, including many for social rent, alongside high-quality green spaces close to our city centre.

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“We believe it is the model of what a new town should be, with modern homes linked to high-quality public transport. Only this week we agreed to invest £60m in a new tram connection for Victoria North from our ground-breaking Good Growth Fund.

“Greater Manchester is ready to deliver a decade of good growth, giving people quality jobs and truly affordable homes, and Victoria North is a crucial part of that.”

Victoria North extends from Angel Meadow in the city centre through to Queen’s Park in Collyhurst. It represents one of the largest regeneration schemes in Manchester’s history – last year, it received official endorsement as one of Labour’s new towns.

Manchester council has additionally partnered with Hong Kong-based Far East Consortium (FEC) on an even more substantial scheme featuring seven new neighbourhoods stretching from the New Cross quarter near Ancoats, along Rochdale Road to Smedley Dip in Collyhurst. The scheme would transform Red Bank, deliver a new tram stop at Sandhills, create a 46-hectare park alongside the River Irk and provide substantial ‘affordable’ housing. Fresh businesses are anticipated to establish themselves beneath the Red Bank railway arches.

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Housing Secretary Steve Reed said: “People want real homes they can actually afford and infrastructure that really works – this government is making that a reality for communities across the country. For Greater Manchester, that means at least 15,000 new homes and a new Metrolink stop that will connect communities to jobs right across Greater Manchester.

Aerial view of the Victoria North area in Manchester, including development images in Collyhurst and surrounding areas

Victoria North, Manchester, including development images in Collyhurst and surrounding areas (Image: Sean Hansford | Manchester Evening News)

“Alongside this, our 40% affordable housing target will mean homes will work for ordinary people, not just those who can already afford it. Greater Manchester is ready to build, and together with the new National Housing Bank, we’re laying the foundations our communities deserve.”

Seven sites have been selected for new towns: Tempsford, Leeds South Bank, Crews Hill and Chase Park, Manchester Victoria North, Thamesmead, Brabazon and West Innovation Arc, and Milton Keynes. The Government also evaluated six additional new town sites – Adlington, Heyford Park, Marlcombe, Plymouth, South Barking and Wychavon Town – but concluded these would not proceed. The Government stated that no final decisions have been taken regarding the names of new towns. The potential names under Government consideration include Elizabethtown, honouring the Queen, Pankhurst, commemorating suffragette Emmeline, Attleeton, recognising former Prime Minister Clement Attlee, Athelstan, celebrating the first King of England, and Seacole, paying tribute to nurse Mary, the Times reported.

Manchester council anticipates the initial results of its £4bn scheme in Collyhurst will help promote the broader ambition for the area, which would essentially extend the city centre across predominantly vacant land and increase the local population by 40,000 over a 20-year timeframe.

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To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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These 5 equity mutual funds lose over 20% on SIP investments in 1 year. Do you own any?

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The Economic Times

Five equity mutual funds delivered negative SIP returns over one year, with XIRRs between minus 20% and 28%, leaving monthly Rs 10,000 investments barely above contributions, highlighting short-term market volatility.

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Vedanta declares Rs 11/share interim dividend; total payout at Rs 4,300 crore

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Vedanta declares Rs 11/share interim dividend; total payout at Rs 4,300 crore
Metal major Vedanta Limited on Monday declared a third interim dividend of Rs 11 per share for the financial year 2026. The company will incur a payout of Rs 4,300 crore.

The company has fixed Saturday, March 28, as the record date for determining shareholders’ eligibility to receive the dividend payout.

The decision was taken in a board meeting held on Monday, and the company informed the exchanges during the market hours.

Vedanta shares today fell 6% to hit the day’ low of Rs 634.25 on the NSE amid a bloodbath on the D-Street. The heartbeat Nifty index fell 640 points or 2.8% intraday to hit the day’s low of 22,471.25.

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Vedanta dividend history

The Anil Agarwal-promoted company has declared 49 dividends since July 23, 2001, according to Trendlyne data. In the past 12 months, Vedanta has declared an equity dividend amounting to Rs 23 per share. At the current share price, Vedanta’s dividend yield is 3.59%.


Vedanta shares have delivered nearly 40% returns over a one-year period, outperforming the benchmarks Nifty and the BSE Sensex, whose returns are nearly -3% and -5%, respectively, in the same period.
However, the shares have seen a 5% over the past month, largely on the back of the ongoing Iran-Israel war, which is now in its fourth week. Apart from unfavourable market sentiments, Monday’s weakness can also be attributed to the order of the Supreme Court last week, which upheld the Bombay High Court’s ruling that the conglomerate is not entitled to procure high-speed diesel (HSD) at concessional rates against Form C.

The high court had found that Vedanta used HSD for purposes other than mining, including resale to transporters and private parties. It noted that the company’s tax registration certificate restricted the use of fuel to running and maintenance of machinery for mining and processing iron ore for sale.

Vedanta had obtained tax registration under the Goa Value Added Tax Act and the Central Sales Tax Act, which was renewed periodically. However, after the introduction of the compiled GST regime in 2017, the company migrated to the new system but continued to pay central sales tax on HSD purchases and retained its VAT registration.

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Tax authorities denied Form C to Vedanta, stating that the company had ceased to be a dealer under the Central Sales Tax Act and that its registration had become infructuous. Vedanta was trying to use Form C in order to avoid local value-added tax of 19% on diesel purchased from Karnataka by availing a concessional rate of 2%, the tax department argued.

The court held that the registration certificate allowed concessional diesel only for running mining machinery, not for resale or supply to third-party transporters. The shares of the company plunged 5% to trade at Rs 637, the lowest level seen by the stock since February 1 this year.

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ASX tumbles to lowest level since May as war drags on

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ASX tumbles to lowest level since May as war drags on

Australia’s share market has trimmed some losses but still ended at its lowest level since May 2025, as the Middle East conflict continues to wreak havoc on energy prices.

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Zomato’s fee hike to boost margins, demand still intact : Jignanshu Gor

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Zomato’s fee hike to boost margins, demand still intact : Jignanshu Gor
Zomato’s latest move to raise its platform fee has reignited debate over pricing power, profitability, and consumer behaviour in India’s fast-evolving food delivery and quick commerce market. While the hike nudges it ahead of Swiggy on effective charges, analysts believe the broader story remains one of improving margins rather than weakening demand—at least for now.

Breaking down the math, the revised platform fee of Rs 14.9, along with GST and additional charges, pushes the effective burden higher than its closest rival. Addressing this shift, Jignanshu Gor from Bernstein India said in an interview to ET Now, “Zomato’s hike now makes it higher than Swiggy.” He added that both players have historically moved in tandem on pricing, given the duopolistic nature of the market, and expects Swiggy could follow suit.

The increase—from Rs 12.5 earlier to Rs 14.9—marks nearly 19% growth, which Gor described as “significant growth to profitability.” With Zomato’s adjusted EBITDA per order hovering between Rs 20 and Rs 22, even a modest Rs 2.5 increase can meaningfully boost margins.

However, pricing power comes with its own set of risks. A key concern remains whether higher fees could impact customer behaviour over time. Gor acknowledged that platforms are still experimenting: “The platforms need to find a sweet spot… to ensure that it does not hurt demand elasticity.” At present, the fee accounts for roughly 3% of gross order value, a level he believes is sustainable without denting demand.

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Interestingly, a large portion of these fees is not retained. Gor highlighted that “only around 40% of the fee is realised, the remaining is ploughed back as discounts.” This indicates that while headline fees are rising, net realisations remain moderated by competitive discounting strategies.


On the quick commerce front, competition has intensified, particularly since October. Yet, the pace of escalation appears to have stabilised. According to Gor, “the competition in discounting has intensified since October, but… it has largely been stable so far.” Instead of aggressive pricing, players like Flipkart, Amazon, and Zepto are focusing on expanding dark stores and product assortment to capture market share.
Despite concerns around rising costs—especially commercial LPG prices affecting restaurants—demand trends have remained resilient. Gor observed, “we are not seeing necessarily demand curtailment so far.” Even with menu reductions and operational challenges faced by some outlets, order volumes and app usage metrics continue to hold up. Delivery capacity, in fact, remains tight during peak hours, indicating sustained demand.From a market perspective, Zomato’s sharp stock correction from its highs has raised eyebrows. Yet, analysts see this as a function of valuation reset and ownership dynamics rather than a breakdown in fundamentals. Gor pointed out that “we do not think anything has broken in the promise… for the stock price correction to be warranted.”

Looking ahead, profitability in quick commerce could be a turning point. Gor expects that “the loss-making days… are largely behind them,” with EBITDA margins potentially turning positive in the coming quarters. This, along with steady food delivery growth, could help rebuild investor confidence.

That said, the road ahead is not without challenges. The biggest uncertainty, according to Gor, is the size of the addressable market. Slowing growth rates have triggered concerns reminiscent of the food delivery slowdown seen in 2023–24. “The TAM is a bigger problem… than competition,” he remarked, underscoring investor anxiety around long-term scalability.

Competition, however, remains a critical variable. The presence of players like Zepto, along with aggressive moves by Amazon and Flipkart, could influence pricing strategies and profitability trajectories in the near term.

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Adding another layer of complexity is the potential impact of GLP-1 drugs on consumption patterns. Gor believes this could emerge as a meaningful factor in the second half of the year: “We expect it will become a part of the food delivery conversation… it will have some impact.” While reduced food intake could lower order frequency, higher average order values and a shift towards healthier offerings may offset some of the downside.

In the near term, Zomato’s fee hike appears less about stretching consumers and more about strengthening its financial backbone. The real test, however, will lie in balancing profitability with demand in an increasingly competitive and evolving market landscape.

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