Can Swiggy ride the sentiment wave after Eternal's blowout quarter?
shares saw renewed interest after
Eternal
, the parent of
Zomato
and Blinkit, posted strong operational metrics in Q1FY26, despite a sharp drop in profit. With investors bullish on the quick commerce theme, attention is now turning to Swiggy ahead of its results.
Sector sentiment lifts Swiggy
Eternal's Q1 report showed a 70% year-on-year jump in revenue, driven by strong performances in Blinkit and food delivery. Notably, quick commerce Net Order Value (NOV) surpassed food delivery for the first time in a full quarter, reflecting a significant shift in consumer demand.
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This growth sparked optimism among investors, with brokerages like Jefferies upgrading Eternal to a Buy, calling Blinkit's momentum 'underestimated.' The upbeat sentiment quickly spilled over to Swiggy, which also operates in the high-growth quick commerce space.
Swiggy up 21% in 3 months, but still below peak
Swiggy stock, currently trading at Rs 417, has gained 21% over the last three months. However, it remains 32% below its 52-week high of Rs 617 and is down 23% year-to-date. Analysts believe this recent upward momentum could continue if technical indicators hold.
Technical setup supports a bullish outlook
According to Kunal V Parar, VP – Technical Research & Algo at Choice Broking, the stock has formed a Cup and Handle pattern and is trading above both its 50-day and 100-day moving averages.
'A bullish crossover and RSI above 70 indicate strong momentum. A breakout above the neckline could push the stock towards Rs 453 and potentially Rs 525,' said Parar.
Drumil Vithlani, Technical Analyst at Bonanza, added that Swiggy has been forming higher highs and higher lows since June, suggesting a continued positive undertone.
'As long as the stock holds above Rs 400, we expect a gradual move towards Rs 440 in the near term,' Vithlani noted.
Q1 results could be the next catalyst
Swiggy is yet to announce its Q1FY26 results, but given Eternal's strong revenue growth and sector-wide momentum, investors may position early in anticipation of similar trends.
If Swiggy's numbers confirm rising traction in food delivery and quick commerce, analysts believe the stock could reclaim higher levels last seen earlier this year.
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