India's e-commerce stocks outperform Chinese peers

India’s top e-commerce stocks have outpaced local indexes and regional peers over the past month, as a rapid rebound fuels bets on their ability to edge out rivals and boost profitability.

- Bloomberg

Shares of Swiggy Ltd climbed 20% last month, topping the National Stock Exchange (NSE) Nifty 100 Index, while Eternal Ltd advanced 11%. The rally in India’s fast-growing quick-commerce sector—which delivers daily essentials in just minutes—contrasts sharply with losses for counterparts in China, where a fierce price war has battered food-delivery firms.

Even with new entrants including Amazon.com Inc. and Walmart Inc.’s Flipkart India Pvt., analysts say incumbents Swiggy, Eternal and unlisted Zepto are likely to retain market share, thanks to their entrenched supplier networks and first-mover advantage.