Brokerage firm, Motilal Oswal expects quick-commerce growth to accelerate for both Eternal Ltd. and Swiggy Ltd. in the September quarter, supported by easing competitive intensity, festive demand and continued store additions. The brokerage expects Blinkit's net order value to grow about 23% sequentially in Q2 FY27, while Swiggy Instamart is seen growing around 14%.
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Motilal Oswal Report
Brokerage firm, Motilal Oswal expects quick-commerce growth to accelerate for both Eternal Ltd. and Swiggy Ltd. in the September quarter, supported by easing competitive intensity, festive demand and continued store additions. The brokerage expects Blinkit's net order value to grow about 23% sequentially in Q2 FY27, while Swiggy Instamart is seen growing around 14%.
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Food delivery growth is expected to remain steady at roughly 18-22% YoY for both platforms, with gradual margin improvement.
The brokerage has reiterated its 'Buy' rating on both stocks, but prefers Zomato parent Eternal due to Blinkit's scale leadership and clearer path to profitability. Motilal Oswal has a target price of Rs 430 for Eternal, implying around 28% upside, while it has revised Swiggy's target price to Rs 360, implying about 29% upside, as elevated quick-commerce losses continue to weigh despite improving volumes.
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