Business
Zomato-parent Eternal up after CLSA says Blinkit widens lead in India quick commerce
Zomato-parent Eternal up after CLSA says Blinkit widens lead in India quick commerce
About this update from Eternal Limited
** Shares of Eternal NSE:ETERNAL, parent of Blinkit and Zomato, jump 5.6% to 260 rupees ** CLSA says Blinkit leads over rivals in quick commerce business in terms of weekly average users (WAU) ** WAU refers to number of unique users engaging with a product or service at least once a week ** Major Indian quick commerce players and WAUs - CLSA citing Senor Tower Data:Co/brand nameWAU (in mln)Blinkit30.1Swiggy's Instamart 8.2Zepto20-25** Brokerage says food delivery arm Zomato one of its "top picks" in India consumer sector along with Swiggy NSE:SWIGGY ** On Wed, Morgan Stanley kept "top pick" call on ETEA due to market leadership in food delivery and quick commerce; started coverage with "overweight" ** So far this week, ETEA and SWIG up 9% and 10% respectively; YTD down ~7% and 32%