JP Morgan bullish on Indian Q-commerce, predicts upside potential up to 50% for Zomato, Swiggy

JP Morgan maintains "Overweight" ratings on Swiggy and Zomato with target prices of Rs 730 and Rs 340, citing attractive entry points. The firm highlights the rapid expansion of dark stores by Blinkit and Zepto, emphasizing a significant growth opportunity in smaller markets. Zomato's Quick Commerce is positioned to absorb growth without major margin impacts.