While Eternal and Swiggy investors worry about Amazon and Flipkart’s entry into India’s tight spaced quick commerce segment, analysts at Anand Rathi believe that Blinkit is the undisputed market leader that is structurally well-positioned in this space to handle the heat.
In its latest note on quick commerce, Anand Rathi highlighted that Blinkit’s market leadership is likely to be maintained on the back of clear scale advantage with strong customer retention without relying on heavy discounts. The domestic brokerage maintained its ‘Buy’ rating on the shares of Eternal with a target price of Rs 400 apiece, implying an upside potential of more than 43% from the stock’s previous closing price.
