Eternal Share Price Surges Over 6% on Heavy Trading Volumes and Major Developments
Eternal Limited, formerly known as Zomato Limited, witnessed a significant rally in its share price during Tuesday's trading session. The stock climbed as much as 6.70% to reach ₹308.05 per share, driven by exceptionally high trading volumes across both major exchanges.
Robust Trading Activity and Block Deal Details
According to data from the National Stock Exchange (NSE), trading volume for Eternal shares stood at a substantial 9.91 crore units as of 3:15 PM. On the Bombay Stock Exchange (BSE), total traded shares reached 48 lakh, which is more than double the two-week average of 22.21 lakh shares.
The new-age stock opened at ₹291 in the early morning session, compared to its previous close of ₹288.85. Market reports indicate that a large block deal was executed in Eternal, involving approximately 1.19 crore shares changing hands. This transaction was valued close to ₹344 crore, although independent verification of this detail remains pending.
Eternal's stock performance has been notably strong recently, with gains exceeding 8.37% over the past five sessions and 6.61% over the past month. This upward momentum signals renewed investor interest following the company's third-quarter financial results and recent leadership transition.
Recent Strategic Business Developments
Eternal announced the launch of a dedicated AI-powered hotline on Monday, designed to streamline the onboarding process for delivery partners. According to a company statement, this initiative triggers an AI-enabled WhatsApp journey that completes onboarding and background verification within minutes.
In a separate development, the company informed through an exchange filing on February 6 that Zomato Netherlands B.V., a step-down subsidiary, has been officially dissolved effective January 27, 2026. The company received confirmation of this dissolution on February 5, 2026.
The leadership landscape at Eternal has also undergone significant changes. On January 21, Deepinder Goyal formally resigned from his positions as Managing Director and CEO, effective February 1, 2026. Goyal announced that Albinder Dhindsa (Albi) will assume the role of Eternal's new Group CEO moving forward.
Strong Q3 Financial Performance Highlights
Eternal delivered a robust set of earnings for the December quarter, demonstrating substantial growth across key metrics. The company's Q3 net profit surged 73% year-on-year to ₹102 crore, while consolidated revenue from operations skyrocketed more than threefold to ₹16,315 crore from ₹5,405 crore in the same quarter last year.
Consolidated adjusted EBITDA increased 28% year-on-year and 63% quarter-on-quarter to ₹364 crore. Business-to-consumer net order value (NOV) climbed 55% year-on-year and 11% sequentially to ₹25,732 crore, surpassing an annualized run rate of ₹1 lakh crore.
The recovery in food delivery NOV growth continued, with Q3 FY26 NOV increasing 16.6% year-on-year and 4.5% quarter-on-quarter. Gross order value (GOV) expanded 21.3% annually and 5.2% sequentially.
Eternal's quick commerce NOV growth remained exceptionally strong at 121% year-on-year and 14% quarter-on-quarter, despite challenges from GST changes and seasonal factors. Like-for-like NOV growth exceeded 130% year-on-year, with 211 net new stores added during the quarter, bringing the total store count to 2,027.
Brokerage Perspectives and Investment Recommendations
Brokerage firm Emkay Global Financial Services has maintained a 'buy' rating on Eternal stock, though it reduced the target price by 14% to ₹370 from ₹430. The firm expressed confidence in the long-term opportunity within India's quick commerce sector and Blinkit's superior execution capabilities, while noting concerns about near-term competitive intensity from new market entrants.
Axis Securities has also assigned a 'buy' rating to the stock with a target price of ₹360, highlighting that Zomato has built a resilient business model through multiple strategic verticals that deliver broad-based growth. The brokerage noted that near-term challenges, including rising competition and rapid store expansion, may keep profitability under pressure in the short term.
Disclaimer: This analysis is for educational purposes only. The views and recommendations presented are those of individual analysts or brokerage firms. Investors are advised to consult certified experts before making any investment decisions.
