Swiggy shares will be in focus as the company received shareholder approval to cap its aggregate foreign ownership at 49.5%, according to reports from Reuters. This approval came months after shareholders rejected a similar proposal in May, paving the way for the company to qualify as an Indian-owned and controlled company (IOCC). The Indian owned and controlled company status would allow Swiggy to directly own and sell inventory through its quick commerce brand Instamart, a move expected to improve margins and strengthen supply chain control. Rival Blinkit, owned by Eternal, follows an inventory-led model. As of July 6, aggregate foreign investment in Swiggy stood at 49.76% on a fully diluted basis, while domestic investors owned 50.24%. The company's foreign investors include Prosus, SoftBank, Tencent and Accel, while its Indian investors include SBI Mutual Fund, ICICI Prudential Asset Management and HDFC Mutual Fund, according to data compiled by LSEG.
Higher crude prices are typically positive for upstream producers such as ONGC and Oil India, while they can pressure margins of oil marketing companies, airlines, paint and tyre manufacturers due to elevated input costs, as reported by Upstox. The GIFT NIFTY futures suggest that the NIFTY50 index will open 23 points lower, indicating a negative opening for Wednesday's session. The domestic equity market is expected to open in the red on Wednesday, August 19. Shares of Bharat Petroleum Corp. Ltd., Swiggy Ltd., Hindustan Construction Company Ltd., Eicher Motors Ltd. and Oil And Natural Gas Corporation Ltd. will be in focus on Wednesday, according to NDTV Profit.
Swiggy announced expanded leadership roles for three senior executives at its Instamart and Food Marketplace businesses on Tuesday. Himavant Kurnala has been appointed Chief Growth and Product Officer, Instamart, having led the quick commerce platform's product charter since 2024, later expanding his remit to include growth and brand marketing. Nitesh Garg has been named Chief Technology Officer, Instamart, having spent over seven years at Swiggy, most recently as Senior Vice President leading engineering for Instamart and New Initiatives. Saurav Goyal has been appointed Chief Operating Officer, Food Marketplace, having held a wide range of leadership roles since joining Swiggy in 2020, spanning business finance for food, Instamart and driver and delivery product and operations. This follows a series of recent leadership appointments, including Nandita Sinha as Chief Executive Officer, Instamart, and Gautam Swaroop as Chief Business Officer, Instamart.
According to Upstox, Hindustan Zinc has continued to strengthen its renewable power generation capabilities across its business units in Rajasthan and Uttarakhand. During FY'26, the company generated 892 million units of green power, compared with 632 million units in FY'25. The increase in green power generation, along with renewable power procurement, has contributed to the steady growth of renewable energy in the company's overall power mix. The company is progressing towards meeting approximately 70% of its overall power requirements through renewable energy by FY2027-28.
As reported by Upstox, Jubilant Ingrevia Ltd has entered into a binding agreement with Zettaone Technologies India Pvt Ltd for the proposed acquisition. Zettaone Technologies, co-founded by Harikrishnan, Sureshkumar, Prabu and Arunkumar, is an electronics design and manufacturing platform with integrated capabilities in electronics/semicon industry. US-based Y Combinator, through its affiliate YC Holdings II, LLC, sold a total of 7,46,87,500 shares, representing a 1.19% stake in Bengaluru-based Groww at an average price of ₹192.16 per share, taking the transaction size to ₹1,435.19 crore.
