Highlights
Food Delivery Sector Insights: Swiggy and Eternal Transactions
Food delivery sector dynamics changed as institutional investors made active adjustments in the stock market on Tuesday. Significant trades spotlighted the intense dealings in the food delivery area. Notably, French banking powerhouse BNP Paribas Financial Markets exited a substantial position in Swiggy and simultaneously took a significant stake in Eternal, the parent organisation of Zomato.
In a major move, BNP Paribas sold shares of Swiggy valued at approximately Rs 1,140 crore, with Societe Generale mirroring this tactic by offloading shares worth Rs 608 crore. The entire selloff amounted to around Rs 1,748 crore within the food delivery giant Swiggy, indicating robust foreign institutional profit-taking in the sector.
BNP Paribas Strategy Shift Towards Eternal
Conversely, BNP Paribas showcased a starkly different approach concerning Eternal, the parent company of Zomato and Blinkit. The bank transformed into a large-scale buyer, acquiring shares valued at nearly Rs 3,220 crore. This development suggests a deliberate strategic shift towards Eternal, overshadowing its previous focus on Swiggy.
Earlier this month, an affiliate of Alibaba Group, Antfin Singapore Holding Pte., sold shares worth Rs 4,097 crore (around $482 million) from Eternal via a bulk transaction. This deal included the disposal of 14.13 crore shares at a price of Rs 290 each.
Financial Performance of Swiggy and Zomato
Swiggy reported a robust year-on-year growth of 54% in operating revenue, amounting to Rs 4,961 crore in the first quarter of FY26. Despite this growth, the company faced significant losses, which nearly doubled to Rs 1,197 crore during the same timeframe. Currently, Swiggy’s total market capitalisation stands at Rs 1,06,765 crore (approximately $12 billion).
In contrast, Zomato’s parent, Eternal, achieved a remarkable year-on-year operating revenue growth of 70%, reaching Rs 7,167 crore in the first quarter of FY26. However, the company experienced a drastic 90% decline in profit, diminishing to Rs 25 crore within the quarter. The market capitalisation for Eternal currently estimates at Rs 3,09,535 crore (around $35 billion).
Stock Trajectories: Swiggy vs Eternal
In May, Swiggy’s stock faced a downturn, reaching an all-time low of Rs 297. Conversely, Eternal’s stock peaked at an all-time high of Rs 331 on August 20, 2025, just a week prior.