Stocks to Buy: Brokerage backs Eternal, Swiggy share price to jump

New Delhi: The quick commerce platforms are fast expanding in India. Blinkit has been a direct beneficiary of the growing culture as its weekly active users (WAU) have set a new record. In the week ending on June 23, Blinkit's WAU reached 34.2 million (i.e. about 3.4 crores), which is its highest level till date. Interestingly, Blinkit has surpassed Zomato's 29.1 (about 2.9 crores) million WAU.

Swiggy's quick commerce app Instamart is growing at a fast pace. It has been a few months since it was launched, and its WAU has reached 8.4 million. Brokerage firm CLSA has released a report which mentions the share target price for both Swiggy and Zomato, which is listed as Eternal on stock exchanges.

While projecting shares of Eternal and Swiggy to rise, CLSA predicted the Eternal shares to rise up to Rs 375. Similarly, for Swiggy, the brokerage said the stock has the potential to appreciate to the level of Rs 500.

The firm believes that Eternal's strong product portfolio and Swiggy's growth in quick commerce can accelerate growth in the future.

In its July 2 report, CLSA stated the week was challenging for Zepto as its lead over Blinkit dropped to just 1.2 million WAU. Earlier, Zepto had a gap of more than 3 million over Blinkit.

Notably, Zepto has the highest total WAU, but it has witnessed a decline on a YTD (year-to-date) basis. Observing all these aspects, CLSA named Eternal and Swiggy as its top choices in India's consumer sector.

Quick Commerce growth

Blinkit: 34.2m WAU (+25 per cent QoQ)

Zepto: 35.4m WAU (-6 per cent QoQ)

Instamart: 8.4m WAU (rapid growth since launch)

BigBasket: 15.2m WAU (+87 per cent YoY)

JioMart: 8.3m WAU (+36% YoY)

Eternal shares closed at Rs 264 apiece on July 9, 2025, while Swiggy stock ended at Rs 381. The shares of Swiggy have given a negative return of nearly 25 per cent in the last six months, while Eternal stock jumped nearly 25 per cent.