Shares of Swiggy Ltd. and Eternal Ltd. rebounded from the day’s lows after the central government pursuaded them to do away with 10-minute delivery for the sake of gig workers.
On Tuesday, Swiggy’s share price fell as much as 1.08% but recouped the loss to trade 1.8% higher. Eternal, which operates Zomato and Blinkit, surged 3%.
That, after Labour Minister Mansukh Mandaviya met representives of quick-commerce firms on the issue of increasing pressure on gig workers and their stressful work conditions. He persuaded them to pause the 10-minute delivery service, to which they have reportedly obliged.
There have been widespread debates and discussions in the public domain about gig workers’ working conditions over the past weeks.