BofA Names Meesho, Eternal Top New-Age Internet Bets In Q1 Preview
BofA's Q1 preview favors Meesho and Eternal among Indian e-commerce and quick-commerce names, forecasting 33% NMV growth for Meesho and 17% QoQ NOV growth for Eternal. Broker sees healthy growth across food delivery, fintech and services despite Middle East fuel-price risks.
What happened
BofA's Q1 preview names Meesho and Eternal as top new-age internet picks, forecasting healthy growth and margins across Indian e-commerce, quick commerce, food
Key facts
- 33% NMV growth Meesho
- 17% QoQ NOV Eternal
- 4% growth Swiggy
- 5-8% QoQ Paytm
- 35% revenue growth PB Fintech
- 14% cc growth MakeMyTrip
- 21%/65% YoY Urban Company
Why this matters
Robust growth momentum in Meesho's e-commerce and Eternal's quick-commerce and adjacent fintech/services businesses highlights partnership and M&A opportunities across India's expanding new-age internet ecosystem.
What to watch
- Actual Q1 NMV/NOV prints vs BofA's 33%/17% marks
- Contribution margin and adjusted EBITDA trajectory in quick-commerce
- Brent/diesel price moves and Middle East supply headlines
- Competitive dark-store expansion and discounting cadence
- Fintech and services segment take-rate and monetization commentary
- Overweight Eternal and Meesho pre-print with tight risk given consensus already leans bullish
- Pair-trade long quick-commerce leaders vs short lagging pure-play e-commerce names
- Monitor rival brokers for confirming/dissenting Q1 previews to gauge crowding
- Hedge fuel/logistics cost exposure via energy or transport proxies