Zomato, Swiggy Stocks Rally: Instamart Parent Jumps As Foreign Stake Falls, Eternal Rises On MSCI Rejig Hopes

Quick commerce giant Swiggy Limited saw a sharp rally during Thursday's intraday trading session amid optimism around its domestic ownership update. Meanwhile, shares of Zomato's parent firm, Eternal, also soared during the day for a different reason. Eternal's share price rally was fuelled by enthusiasm around a favourable adjustment in the upcoming MSCI August review.

Swiggy share price was trading 6.49% higher at Rs 278.95 per share on BSE with a market capitalisation of Rs 76,943.74 crore at 2:12 pm on Thursday, July 9. Shares of Blinkit's parent firm, Eternal, were 1.92% higher at Rs 292.05 per share on BSE with a market capitalisation of Rs 2,82,272.76 crore at 2:16 pm on Thursday.

Swiggy Share Price Rally

Swiggy's aggregate foreign investment, including Foreign Direct Investment (FDI), foreign portfolio investment (FPI) and other indirect foreign investment, declined to approximately 49.76%. Which means that the company's domestic ownership has increased to 50.24%. In a stock exchange filing dated July 7, Swiggy said its aggregate foreign investment, including foreign direct investment (FDI), foreign portfolio investment (FPI) and other indirect foreign investment, stood at approximately 49.76% of its fully diluted paid-up equity share capital as of July 6, 2026. This implies that domestic ownership in the company has risen to 50.24%.

What It Means For Swiggy Investors?

Swiggy's transition into a majority Indian-owned entity with aggregate foreign investment falling to 49.76% will be a significant catalyst for long-term valuation rerating. The Indian Owned and Controlled Company (IOCC) will grant its quick commerce vertical Instamart an unprecedented operational flexibility under domestic FDI framework, highlighted Nishchal Jain, Quant Researcher, Share.Market by PhonePe.

"For existing shareholders who already own the stock, the clear consensus is to Hold or selectively accumulate on any minor corrections near the ₹240-₹250 support band; liquidating positions at current levels is discouraged as structural regulatory headwinds are dissipating and the stock shows signs of a durable price bottom," explained Nishchal Jain, Quant Researcher, Share.Market by PhonePe.

For new buyers, Nishchal Jain, Quant Researcher, Share. Market by PhonePe advises "accumulate the stock in tranches either during the current consolidation phase or upon a confirmed technical breakout above ₹270 as the risk-reward ratio has turned highly favourable for those looking to capture India's expanding ₹1 lakh crore hyperlocal commerce market."

Eternal Share Price Rally on MSCI Rejig Buzz

The rally in shares of Zomato's parent entity, Eternal, came amid expectations of a favourable adjustment in the upcoming MSCI August review, reported NDTV Profit citing a Motilal Oswal report. Eternal is expected to be restored to its full weight on the MSCI global standard index.

Eternal Share Price Outlook

Eternal's food delivery business is stable with strong trajectory, whereas Blinkit remains a generational opportunity. Motilal Oswal maintains a 'Buy' rating on Eternal stock with a target price of Rs 380 per share. "We continue to prefer Eternal and reiterate our BUY rating with a TP of INR380 (34% upside)."