In 2026, shares of Swiggy, a prominent food delivery service, have declined by 30%, while Eternal, the parent company of Blinkit, has seen a 12% drop. Despite these declines, Eternal has experienced a remarkable 281% increase over the past three years. Analysts caution that both companies were listed at inflated valuations, and current market conditions are challenging due to factors like rising oil prices and geopolitical tensions. Harshal Dasani, Business Head at INVasset PMS, suggests that investors should wait for at least two quarters of solid earnings and improved operational metrics before making new investments. He notes that Swiggy may offer a slightly better risk-reward scenario due to sector growth, but both stocks remain under pressure. Technical analysis indicates that Eternal shares are currently in a consolidation phase, while Swiggy has not shown meaningful recovery since its debut, trading near all-time lows. Investors are advised to avoid new positions until clearer trends emerge.