Eternal hits record, market cap regains ₹3-trn mark; soars 21% in 4 weeks

Business Standard

2 days ago

Eternal shares price today, market capitalisation regains ₹3-trillion: Shares of Eternal, the parent company of food aggregator Zomato and quick-commerce firm Blinkit, hit a record high of ₹315.10, up 1 per cent on the BSE in Thursday's intra-day trade. The stock gained 3 per cent in the past two trading days. It surpassed its previous high of ₹314.40 touched on July 24, 2025.
In the past four weeks, Eternal has outperformed the market by surging 21 per cent, as compared to nearly 2 per cent decline in the BSE Sensex. The stock has bounced back 66 per cent from its 52-week low of ₹189.60 touched on April 7, 2025. A sharp up move in stock price of the company led Eternal to regain ₹3-trillion market capitalisation.
At 11:25 AM, with ₹3.03 trillion market captialisation, Eternal was quoting 0.6 per cent higher at ₹314.15 on the BSE. In comparison, the BSE Sensex was up 0.11 per cent at 80,629.
Antfin offloaded Eternal equity shares via open market
On August 7, 2025, Antfin Singapore Holding offloaded 1.46 per cent stake in Eternal (formerly Zomato) via block deals. The Chinese investor sold 141.3 million shares at a price of ₹289.91 per share, NSE bulk deal data shows.
Eternal is exhibiting a strong confluence of bullish signals. Historically, the stock had faced declines near the same price zone, but this time it has recovered with the formation of a higher-high and higher-low structure, reflecting sustained upward momentum.
Recently, the stock retested its breakout zone and is now consolidating in a healthy manner just below the resistance level, indicating cooling supply and rising demand. This price action also places the stock on the verge of cup-and-handle formation, which suggests a technically robust base and growing accumulation.
A decisive close above ₹325 could act as a catalyst for the next leg of the rally, with near-term upside potential toward ₹362, underscoring its strong bullish momentum. The price is well-supported above its 20, 50, 100, and 200-day Exponential Moving Averages, all trending upward, confirming the strength of the prevailing trend, the brokerage firm said.
Traders may consider a buy-on-dips strategy around ₹300, with a positional stop-loss at ₹288. Upon confirmation, Eternal could aim for ₹362 and beyond, offering a favorable risk-reward setup for positional trades, Choice Equity Broking said.
Eternal is set for long-term growth and improved profitability, driven by its strong market position and growth prospects in the quick commerce business (QCB). The company's focus on inventory ownership and margin improvement is expected to drive profitability. Although the industry outlook remains competitive, the company's strategy and long-term growth objectives, along with its strong management team, are expected to drive future growth. However, the stock's significant run-up in price and rich valuations limit the upside potential from current levels, Geojit Investments said in its Q1 result update. The brokerage firm has a 'Hold' rating on Eternal with a target price of ₹337 per share.
Eternal management reiterated its 2,000 stores target by Q3 and guided for 100 bps adjusted Ebitda margin expansion from pivoting to an inventory-led model. A 70 per cent YoY net order value (NOV) expansion in Delhi, called out in the shareholder letter, is a key positive which explains Blinkit's aspirations to reach 3,000 stores in the medium term. 13 per cent NOV growth in food delivery, though lower than estimated, can be understood given the management transition. Improving demand outlook in food delivery is another key positive, analysts at ICICI Securities said.