Among the two, Swiggy’s Instamart is viewed as having a superior risk–reward profile, with potential for re-rating as profitability improves. (Photo source: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Bernstein on Tuesday initiated coverage on Eternal and Swiggy with Outperform ratings, assigning target prices of Rs 390 and Rs 570 respectively.

The brokerage believes both companies are well positioned to replicate their food delivery success in India’s rapidly growing quick commerce sector and generate strong investor value despite an increasingly competitive landscape.

Bernstein in its report highlighted that India’s top 5% of consumers, around 70 million people with an estimated GDP per capita of $20,000, will represent an $80 billion addressable marke

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