Indian payment firms are strengthening their presence in countries across the world. From the Middle East to the United Kingdom, Africa, and the United States, players like Juspay, Pine Labs, CCAvenue, and FSS are building domestic merchant payment systems there.
Rapido, which launched as a bike-taxi platform, has crossed a gross merchandise value (GMV) of $1 billion on the back of aggressive expansion into newer segments and across geographies. Rapido, which has ventured into autorickshaws and cabs since it launched, has seen over threefold growth since FY23, when it was clocking a GMV of around $300 million.
In an exclusive interview with ET, new-age logistics company Delhivery's cofounder and CEO Sahil Barua said that the economics of 10-15 minute deliveries may not be sustainable beyond groceries and FMCG. Barua, who also sits on the board of public markets-bound food and grocery delivery firm Swiggy, also spoke about the outlook on India’s ecommerce market.
The stock of the packaged food maker rose from Rs 518 on May 7th to Rs 786 on August 7th, 2024, marking an increase of over 51% in just three months. After reaching above the 700 level in June 2024, the stock became range-bound but found support above the 40-DMA on the daily charts and rebounded. It recovered its losses and broke out of its consolidation range on the daily charts earlier this week, closing at Rs 785 on August 7th.
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