Gig and quick-commerce delivery workers on Wednesday (December 31) are calling a nationwide strike to protest unfair working conditions, low wages, and lack
of social security. The strike comes as platform workers demand the removal of the 10-minute delivery option and the reinstatement of the previous payout structure. The Telangana Gig and Platform Workers Union (TGPWU) President, Shaik Salauddin, said the strike is a continuation of the protest that began on December 25, when around 40,000 workers across India supported the movement, causing delays in 50 to 60 per cent of deliveries. “What happened on December 25 was just the trailer; the real picture will be seen on December 31,” he told ANI. Salauddin highlighted that the demands include restoring the old payout structure, ensuring clarity in incentives, implementing a proper grievance redressal mechanism, and providing social security benefits for platform workers. He also called on both the state and central governments to intervene. The strike is being supported by workers associated with Swiggy, Zomato, Zepto, and Amazon, who have united under the Indian Federation of App-Based Transport Workers (IFAT) to press for long-pending demands. “Earlier, during festivals such as Dussehra, Diwali, and Bakrid, fair payments were made. That system must be implemented again regularly,” Salauddin said. Workers allege that algorithm-based controls have negatively affected their earnings, with unclear incentive payouts and increased pressure from companies. Salauddin added that over 1.5 lakh workers across India are backing the movement, with more expected to join, despite reports of intimidation, including deployment of bouncers near warehouses and blocking of worker IDs.
Voices from the ground
Sanjiv Kumar Sharma, a delivery executive, told PTI, “I have been working with Swiggy for the last seven years. We do not receive proper incentives. We are facing a lot of trouble. We get nothing if an accident happens. In a day, we earn Rs 700–800. In a month, we earn Rs 10,000 to 12,000. We want work to be time-bound, and we should work on a salary-based system.”
Another worker, Mahesh, added, “We deserve respect. We often see – ‘Swiggy-Zomato workers cannot use the lift’ – written in several flats. We do not deserve this discrimination.”
What should investors or traders do now?
Market expert Kunal Bothra suggested that both Eternal and Swiggy stocks present a good buying opportunity for long-term investors, despite recent short-term volatility.
Speaking to ET Now Swadesh, Bothra noted that while news events can temporarily dampen stock prices, the impact is usually short-lived. “Such news flow may create short-term pressure on stock prices, but these are easily absorbed in the long term,” he said.
Bothra highlighted that the long-term trend for both Eternal and Swiggy remains positive, particularly for Eternal, which has shown strong historical chart performance.
He recalled that after a significant post-listing correction, Eternal recovered robustly, multiplying nearly 8 to 9 times from its lows, indicating strong long-term potential. Bothra specifically pointed out that the Rs 275 zone for Eternal is an attractive entry point for long-term traders and investors.
“From a long-term perspective, this is a good territory where investors can consider adding positions,” he added.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
