Eternal Shares: Shares of Zomato and Blinkit’s parent company Eternal Ltd saw a stormy rise of more than 13% today on 22 July. This rise has come after the announcement of the company’s June quarter results. Eternal came a few minutes before the stock market closed on Monday and the same day the stock closed 7.5% higher at ₹ 276.50. Today on Tuesday, the stock climbed further and reached close to its all-time high of Rs 311.25
Eternal Shares: Shares of Zomato and Blinkit’s parent company Eternal Ltd saw a stormy rise of more than 13% today on 22 July. This rise has come after the announcement of the company’s June quarter results. Eternal came a few minutes before the stock market closed on Monday and the same day the stock closed 7.5% higher at ₹ 276.50. Today on Tuesday, the stock climbed further and reached close to its all-time high of Rs 311.25.
Blinkit overtook Zomato
The most important thing in Eternal’s quarterly results was that the revenue of the company’s quick commerce unit ‘Blinkit’ surpassed its food delivery unit Zomato for the first time. In the April-June quarter, Blinkit’s revenue was Rs 2,400 crore, while Zomato earned Rs 2,261 crore from the food delivery business.
The company’s consolidated revenue reached Rs 7,167 crore with a 70% year-on-year growth. However, Eternal has suffered a setback on the profit front. The company’s net profit fell from Rs 253 crore last year to Rs 25 crore, a decline of about 90%. Operating profit (EBITDA) also fell 35% year-on-year to Rs 115 crore, indicating pressure on margins.
Eternal Shares: What do brokerage firms say?
Global brokerage firm Jefferies has given Eternal’s stock a ‘Buy’ rating and raised its target price to Rs 400. This shows a potential upside of about 45% from the current level. Also, this is the highest target ever received by this stock on Dalal Street.
Jefferies said that even though the quarterly performance was mixed, the management’s tone is very positive. Especially about the performance of Blinkit. Margins are also expected to increase from the company’s 1P model (first party), where the company sells directly to consumers.
Eternal Shares: Opinion of other brokerage firms
Bernstein has given an ‘outperform’ rating to Eternal and raised the target to Rs 320. The report said that the gross order value (GOV) of the quick commerce segment grew 140% year-on-year.
CLSA has also maintained a ‘high conviction outperform’ rating on the stock and has a target of Rs 385. CLSA praised Blinkit’s performance and said that its quick commerce segment has now become a bigger business than food delivery.
Nuvama Institutional Equities has maintained ‘Buy’ rating on Eternal and raised the target from Rs 290 to Rs 320.
Nuwama sees Blinkit’s transition from a 3P to a 1P model as crucial, saying it could lead to 1% margin expansion in the next 2-3 quarters. The company plans to open 2,000 dark stores by 2025, with the intention of scaling up to 3,000 later.
Eternal Shares: 42% rise in a year
Eternal shares have so far shown a gain of 42% in the year 2025. The company’s shares jumped about 13.5 per cent today to touch their new all-time high of Rs 311.25. Around 10 am, Eternal shares were trading at Rs 300, up 10.42 per cent. Due to strong revenue growth, excellent performance of Blinkit and positive reports from brokerage, this stock is seeing strong buying.
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