Eternal
Eternal stock tanks 8% despite CLSA ₹506 price target, CEO shake-up rocks markets
Mumbai/IBNS: Shares of Eternal Ltd., the parent company of food delivery aggregator Zomato and quick commerce operator Blinkit, fell 8% on Thursday despite receiving the highest price target from global brokerage CLSA following Q3 FY26 results.
CLSA has raised its price target for Eternal Ltd. to ₹506 per share, reflecting confidence in earnings growth, particularly from Blinkit’s contribution per order and rising order values. The target implies significant potential upside from current levels.
Eternal, formerly Zomato, reported a strong third-quarter performance in FY26, with revenue from operations more than tripling year-on-year to approximately ₹16,315 crore, driven by robust growth across food delivery, Blinkit quick commerce, and other segments.
The company’s consolidated net profit rose 72.9% to ₹102 crore, up from ₹59 crore in the year-ago quarter, while EBITDA expanded as operations scaled.
In a key leadership transition, Deepinder Goyal announced he will step down as Group CEO, with Albinder Dhindsa, CEO of Blinkit, taking over, signaling a new phase in the company’s strategy and operations.
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