Internet sectors performance marketing spends have remained comparatively muted(Photo source: Brett Jordan/ Usplash)
ICICI Securities estimates Swiggy should marginally gain share in food delivery business. Its channel checks indicate e-comm volume growth is accelerating from the lows of FY24/25. Delhivery is likely to be a key beneficiary of this trend. Eternal and Delhivery are key picks for Q1 FY26. The brokerage remains bullish on Swiggy.