Macquarie has an 'underperform' call on Swiggy and Eternal. (Image: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

As Amazon steps up its quick-commerce push by accelerating the rollout of its Amazon Now service, brokerage firm Macquarie questions whether the expansion race is a “Field of Dreams” opportunity or a “Pyrrhic land grab,” noting that the allure of an “enormous” total addressable market means competition will remain strong and rising from multiple fronts.

Macquarie remains constructive on the quick commerce sector growth but expects material, persistent losses, pushing back against the narrative of a sharp improvement in profitability driven by consolidation. It maintains 'underperform' ratings on Zomato-parent Eternal and Swiggy. The brokerage se

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