From underdog to contender: Is Instamart Swiggy’s secret weapon against Zomato? Here’s what BNP Paribas says

The standoff between Swiggy and Zomato is only getting intense with the former now closing the gap with the rival firm in India’s food delivery market. According to a report by BNP Paribas, Swiggy’s quick commerce arm Instamart could emerge as a major value driver in the long run. The brokerage firm has initiated coverage on the company with an “Outperform” rating, citing its improving performance in food delivery (FD) and an impressive growth in potential in the quick commerce (QC) space.