Home TECH Zomato stock: Zomato, Swiggy, other new-age company stocks vault on budget sops...

Zomato stock: Zomato, Swiggy, other new-age company stocks vault on budget sops for gig workers

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Zomato, Swiggy and other new-age companies saw their stocks jump up to 10% on Saturday following Finance Minister Nirmala Sitharaman’s announcement in the Union Budget 2025 boosting benefits and healthcare for gig workers.

The rapid growth of India’s quick commerce sector has led to a surge in demand for gig workers at 10-minute grocery delivery firms like Blinkit, Zepto, and Swiggy Instamart.

Zomato’s shares surged over 7%, hitting the day’s high of Rs 237.5, while Swiggy’s shares jumped 10%, reaching a high of Rs 458.3 on budget day.

Similarly, Nykaa and Ola Electric Mobility rose around 4.5% and 2% respectively.

On the contrary, Paytm’s stock fell by about 1.6%, PolicyBazaar by 5%, and Delhivery by 2%.

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The finance minister also revised income tax slabs, a move cheered by the middle class, and announced a new Rs 10,000 crore fund of funds (FoFs) scheme for startups.

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