Swiggy vs Eternal shares | Stocks to buy after Q2 Results 2026: After falling for the three straight sessions, Eternal shares witnessed some value buying on Friday, defying the weak trends on Dalal Street. However, Swiggy's share price crashed 15% after the announcement of Q2 results 2026 on Thursday. So, both stocks witnessed a heavy sell-off after the announcement of Q2FY27 earnings. Eternal declared its Q2 earnings on 21st October 2026, and it witnessed sharp selling on both 21 and 22 October 2026. However, its founder drew global investors' attention to Eternal by launching Dark AI.
Decoding Swiggy's Q2FY27 earnings, the Jefferies India report said that Swiggy’s FD reported an in-line qtr on both topline & EBITDA. Q/C NOV QoQ growth was in D/D, although YoY moderated. Q/C adj. EBITDA losses swelled to a three-quarter high of ₹900 crore - this remains a key issue for the stock, with the current price not even factoring in the value of Food Delivery & current cash. Performance also appears lackluster compared with the market leader, Eternal. We believe a reduction in Q/C losses is essential for true value discovery.
On suggestions to stock investors regarding Swiggy's shares, the Jefferies India report says, “We make a series of changes that increase adj. EBITDA losses over the forecast period. We also cut multiple for food delivery, as Q/C loss reduction remains critical given that this is the key investor concern and hence revise down our SOTP-based PT to ₹330.”
It should be noted that the Jefferies India report has kept Swiggy shares in the list of high-risk-reward stocks. The global investment bank has reduced its Swiggy share price target from ₹435 to ₹330 following the Q2 results.
The Jefferies India says that Deepinder Goyal frames dark.ai around a simple constraint: AI becomes less useful when users cannot comfortably share their most valuable information. Founders may withhold proprietary ideas, researchers' work, & enterprises' confidential information from conventional assistants. dark.ai seeks to address this with a general-purpose AI assistant in which conversations remain private, even from Eternal itself. The initial target is privacy-sensitive power users.