How much market value did Eternal and Swiggy lose after the announcement?

The two companies lost over $15 billion in combined market value.

Why is Amazon and Flipkart's entry considered a major threat?

Because Amazon and Flipkart have massive logistics infrastructure and large customer bases, which could reshape the rapid delivery market.

What are the stock symbols for Amazon and Walmart?

Amazon's stock symbol is AMZN and Walmart's is WMT.

Amazon, Flipkart Threaten Eternal, Swiggy's Rapid Delivery Dominance in India

Amazon and Flipkart (owned by Walmart) are planning to enter India's rapid delivery market, threatening Eternal and Swiggy's dominance and causing a market rout of over $15 billion.

June 29, 2026

2 min read

Source: Bloomberg

Key Numbers

rout value

15 billion

According to a Bloomberg report, Eternal Ltd. and Swiggy Ltd. face a new threat from e-commerce giants Amazon.com Inc. (NASDAQ: AMZN) and Walmart Inc.'s (NYSE: WMT) Flipkart, as they plan to enter India's 10-minute delivery market.

Details

The announcement of Amazon and Flipkart's intention to launch 10-minute delivery services in India triggered a sharp sell-off in Eternal and Swiggy shares, wiping out over $15 billion in combined market value. The move comes after Eternal and Swiggy successfully built momentum around ultra-fast delivery.

Context

Eternal and Swiggy had capitalized on growing demand for rapid delivery in India, making 10-minute service a new market standard. However, Amazon and Flipkart's entry, backed by massive logistics infrastructure and customer bases, could reshape the competitive landscape.

What This Means for Investors

This development poses a significant challenge to Eternal and Swiggy, potentially squeezing their market share and profit margins. For Amazon and Walmart investors, the expansion into rapid delivery strengthens their position in India's growing e-commerce market, albeit requiring additional investments.

Frequently Asked Questions

The affected companies are Eternal Ltd. and Swiggy Ltd., which pioneered 10-minute delivery in India.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.