Bernstein flags 2026 growth, competition risks for Swiggy, Eternal; sees hypermarkets under pressure
Bernstein's Jignanshu Gor warns Swiggy and Eternal face mounting growth and competitive risks in 2026, while dismissing gig worker payout concerns as overblown. Hypermarket chains V-Mart, DMart and Vishal Mega Mart face a tougher setup from weak tier-3/4 consumption and a high base effect.
What happened
Bernstein's Jignanshu Gor warns Swiggy and Eternal face growth and competition risks in 2026, downplaying gig worker payout concerns. Hypermarket chains V-Mart,
Why this matters
A pressured hypermarket tape and competitive q-commerce landscape could surface distressed tier-3/4 retail assets and consolidation openings—monitor valuations of V-Mart and Vishal Mega Mart for inorganic plays.