{"id":1030539,"date":"2026-08-22T09:56:21","date_gmt":"2026-08-22T04:26:21","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=1030539"},"modified":"2026-08-22T10:00:03","modified_gmt":"2026-08-22T04:30:03","slug":"eternal-vs-swiggy-why-is-macquarie-still-bearish-despite-blinkits-5-5-billion-scale","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2026\/08\/22\/eternal-vs-swiggy-why-is-macquarie-still-bearish-despite-blinkits-5-5-billion-scale\/","title":{"rendered":"Eternal vs Swiggy: Why is Macquarie still bearish despite Blinkit\u2019s $5.5 billion scale"},"content":{"rendered":"<p>Eternal\u2019s Blinkit processed 917 million orders and generated $5.5 billion in net order value in FY26, compared with 414 million orders and $3.2 billion of gross order value for Swiggy\u2019s Instamart. The gap gets wider on profitability: Macquarie estimates Blinkit\u2019s adjusted EBITDA margin at -0.6%, against -12.5% for Instamart. <\/p>\n<p>However, the brokerage remains cautious on both stocks. Macquarie has retained its \u2018Underperform\u2019 rating on Eternal and Swiggy, even while raising Eternal\u2019s price target was raised 18% to Rs 225 from Rs 190. Its price target for Swiggy remains at Rs 230.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eternal\u2019s Blinkit processed 917 million orders and generated $5.5 billion in net order value in FY26, compared with 414 million orders and $3.2 billion of gross order value for Swiggy\u2019s Instamart. The gap gets wider on profitability: Macquarie estimates Blinkit\u2019s adjusted EBITDA margin at -0.6%, against -12.5% for Instamart. However, the brokerage remains cautious on both stocks. Macquarie has retained its \u2018Underperform\u2019 rating on Eternal and Swiggy, even while raising Eternal\u2019s price target was raised 18% to Rs 225 from Rs 190. Its price target for Swiggy remains at Rs 230.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63,4,12],"tags":[],"class_list":["post-1030539","post","type-post","status-publish","format-standard","hentry","category-it-2-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1030539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1030539"}],"version-history":[{"count":1,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1030539\/revisions"}],"predecessor-version":[{"id":1030568,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1030539\/revisions\/1030568"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1030539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1030539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1030539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}