UBS cuts EBITDA estimates for Eternal, Swiggy for next 2-3 years. Here's why

UBS cut EBITDA estimates for Zomato-owner Eternal and Swiggy as quick commerce competition intensifies, widening discounts and delaying margin recovery. Aggressive pricing by Amazon and Zepto pushes Blinkit breakeven to FY27 and weakens Instamart margins, despite long-term growth prospects ahead.

Rupee falls 6 paise to close at 90.29 against US dollar

The rupee pared initial gains and settled for the day 6 paise lower at 90.29 (provisional) against the US dollar on Wednesday, as the likely central bank intervention was negated by a strong dollar, foreign outflows from capital markets, and elevated crude oil prices.