Global brokerage Bernstein has started coverage on Swiggy and Eternal (earlier known as Zomato). It has assigned ‘Outperform’ rating on both, indicating the expanding opportunities in India’s Rs 6.7 lakh crore convenience economy.

The report pointed to rising adoption of quick commerce and food delivery platforms, as Swiggy and Eternal consolidate leadership across two of India’s fastest-growing digital consumption categories.

Bernstein rates Swiggy and Eternal ‘Outperform’

The brokerage said both platforms were now central to India’s emerging consumer story, with roughly 20–25 million daily active users each. Bernstein noted that Swiggy’s Instamart has improved its store economics after recent funding and strategic adjustments, while Eternal benefits from a strong cash position and

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