Blinkit vs Instamart: Why JM Financial sees a widening quick commerce gap
Blinkit’s growth momentum is expected to outpace Swiggy’s Instamart by a wider margin in the June quarter as stronger order growth and improving profitability reinforce Eternal’s leadership in quick commerce, according to JM Financial.
The brokerage retained its ‘Buy’ rating on Eternal Ltd. and raised its 12-month target price to Rs 440 from Rs 400, implying an upside of about 69.9%. It also retained its ‘Reduce’ rating on Swiggy lowered its target price to Rs 250 from Rs 280, implying an upside of about 4.6%.
