Swiggy shares surge 5% as Blinkit’s Q1 spurs optimism in Q-comm sector

Shares of Swiggy rose 4.9% to Rs 412 on Tuesday, driven by increasing investor confidence in the online food delivery and quick commerce sectors. The rise followed a significant 15% gain in peer company Eternal, which hit a record high of Rs 311.6 after strong Q1 results, particularly from its quick commerce segment, Blinkit.

While Swiggy itself did not release any company-specific updates, the sharp gains in Eternal’s shares lifted the entire sector’s sentiment. Eternal’s standout quarter highlighted Blinkit’s rapid growth—now surpassing Zomato in Net Order Value (NOV)—and prompted brokerages to upgrade their outlooks.