Zepto, the innovative quick commerce platform, has taken a significant leap forward by unveiling a comprehensive selection of Apple products in its electronics category. With the addition of renowned items such as iPhones, iPads, Apple Watches, AirPods, and an array of accessories, Zepto is poised to enhance its competitiveness in the premium electronics sector. This strategic move expands its offerings to over 5,000 stock-keeping units (SKUs) available from diverse sellers on the platform.

This announcement follows closely on the heels of competitor Blinkit, which recently began its rapid delivery service for Apple products, including MacBook Airs, iPads, and AirPods, in select metropolitan areas across India.

In response to the escalating demand for immediate access to high-quality gadgets, Zepto aims to position itself as a go-to destination for consumers seeking high-end electronics. The company has reported a notable 35% month-over-month surge in the number of users actively searching for Apple products.

“Our partnership with Apple allows us to offer a broad array of cutting-edge technology, making it more accessible and revolutionizing the buying experience for premium gadgets,” said Abhimanyu Singh, business head of the electronics division at Zepto. He highlighted the increasing consumer interest, stating, “In just the past month, over a million users have searched for Apple devices—whether it’s the latest iPhone 16E, AirPods 4, or iPads—indicating a strong appetite for quick access to premium tech.”

Singh added that this expansion is not just about adding products; it is about enhancing the overall shopping experience. “With our sellers bolstering their collaboration with Apple, we’re redefining what it means to shop for electronics, ensuring the process is faster, more convenient, and seamless. We are grateful to our sellers for making this possible,” he noted.

Overall, Zepto proudly showcases a diverse catalogue of more than 45,000 products, spanning categories such as groceries, electronics, beauty items, and toys, serving customers across nearly 50 cities in India. With its commitment to excellence, Zepto continues to set new standards for quick commerce in the high-tech market.

Ola Electric’s share price fell nearly 6% on Monday after Rosmerta Digital Services Ltd announced plans to file an insolvency petition against its wholly-owned subsidiary, Ola Electric Technologies Pvt Ltd. The petition, citing unpaid dues, was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) and submitted to the Bengaluru Bench of the National Company Law Tribunal (NCLT).

Ola Electric’s response

Ola Electric Mobility has contested the claims, stating that it has sought legal counsel and will take all necessary actions to challenge the petition. The company mentioned that it had been renegotiating its agreements with Rosmerta Digital Services Pvt Ltd and Shimnit India Pvt Ltd to reduce costs and enhance efficiency in vehicle registration services.

Stock performance and market impact

Opening Price (BSE): Rs 50 per share

Intraday High: Rs 50.16

Intraday Low: Rs 48.61

Market analysts remain bearish on Ola Electric’s stock. Anshul Jain, Head of Research at Lakshmishree Investment and Securities, noted that the stock has been on a steady decline post-IPO, breaking below its base price of ₹76.

“After peaking at ₹157 post-IPO, the stock has been in a firm downtrend. The break below ₹76 suggests that the next key support level is ₹34. Unless a strong reversal occurs, further selling pressure is likely,” Jain stated.

Ola Electric’s Q3 2024 financial results

Ola Electric Mobility reported a widening consolidated net loss of ₹564 crore for Q3 2024, compared to ₹376 crore in the same quarter last year.

Revenue from operations: ₹1,045 crore (down from ₹1,296 crore year-on-year)

Increased expenses: Due to rising competition and one-time costs for service-related improvements

Despite financial struggles, the company noted that it achieved its highest-ever e-scooter registrations of 3.33 lakh units in Q3, marking a 37.5% increase from last year.

Reliance Jio has announced a strategic partnership with SpaceX to introduce Starlink broadband services in India, a move aimed at improving internet accessibility, especially in remote and rural regions. The deal will enable Jio to leverage SpaceX’s low-Earth orbit (LEO) satellites, enhancing its existing broadband services like JioAirFiber and JioFiber.

Under this collaboration, Starlink equipment will be available at Reliance Jio stores across the country, subject to regulatory approvals. Customers will also have access to installation, activation, and support services provided by Jio.

Boosting India’s digital connectivity

The partnership aligns with Jio’s goal of ensuring high-speed internet access for enterprises, small and medium businesses (SMBs), and communities across the country. By utilizing Starlink’s extensive satellite network, the initiative is expected to bridge connectivity gaps in difficult-to-reach locations.

Gwynne Shotwell, President and COO of SpaceX, welcomed the partnership, stating, “We are looking forward to working with Jio and receiving authorization from the Government of India to provide more people, organizations, and businesses with access to Starlink’s high-speed internet services.”

Regulatory approvals and future collaborations

While the partnership is a significant step, Starlink’s services in India still require clearance from regulatory authorities. Once approved, Starlink broadband services will be available for purchase and activation through Jio’s distribution network.

Additionally, Jio and SpaceX plan to explore other complementary areas of cooperation, utilizing their infrastructure to further strengthen India’s digital ecosystem.

This development follows SpaceX’s recent agreement with Bharti Airtel, which also intends to sell Starlink equipment and provide connectivity solutions to business customers, schools, health centers, and remote communities.