Swiggy Upgraded To Buy By Motilal Oswal, Maintains Buy On Eternal; Sees Structural Tailwinds To Drive Growth

The food delivery and quick commerce industry has faced multiple headwinds over the past few months. Food delivery growth slowed due to weak consumption and macro pressures, while quick commerce profitability came under strain from heightened competition, accelerated dark store rollouts, and elevated customer acquisition costs. Motilal Oswal now believes the cycle is turning.