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Eternal, Swiggy rise for 4th straight day amid lower oil prices; UBS sees up to 29% upside
Eternal, Swiggy rise for 4th straight day amid lower oil prices; UBS sees up to 29% upside
About this update from Eternal Limited
Shares of food delivery firms Eternal and Swiggy extended gains for the fourth consecutive session on Wednesday, supported by easing geopolitical concerns and a decline in crude oil prices.Lower crude oil prices are seen as positive for food delivery companies as they help ease fuel and logistics costs, while improving consumer sentiment and reducing concerns over inflation.Shares of Eternal have gained 9.8 percent over the last four sessions, while Swiggy has risen 8 percent during the same period.According to UBS, Indian internet stocks have had a difficult 2026, with shares declining 10-30 percent so far this year amid concerns over a weak macroeconomic environment, rising competition and potential disruption from artificial intelligence, reported Informist.The brokerage said its checks suggest that gross merchandise value (GMV), net order value (NOV) and billings growth across segments are stabilising after a slowdown in the second half of FY26. It also noted that competition in the quick commerce segment is showing signs of moderation.UBS has maintained a 'Buy' rating on Eternal with a target price of Rs 305, implying an upside of 20.26 percent from its previous closing level.For Swiggy, the brokerage has retained a 'Buy' rating with a target price of Rs 335, indicating a potential upside of 29.01 percent from its previous close.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.