Eternal up 86% from April low; hits new high; Should you buy, hold or sell?

In the past one month, the stock price of the parent company of Zomato and Blinkit has outperformed the market by surging 9 per cent

Eternal share price today

 

Eternal shares hit a new high of ₹353, gaining 1.5 per cent on the BSE in Wednesday's intraday trade, ahead of the company's September quarter (Q2FY26) results on Thursday, October 16, 2025.

 

In the past one month, the stock price of the parent company of food aggregator Zomato and quick-commerce firm Blinkit, has outperformed the market by surging 9 per cent. In comparison, the BSE Sensex was up 0.76 per cent.

 

Further, in the past six months, Eternal shares have appreciated by 60 per cent as against 7.4 per cent rise in the benchmark index. The Zomato stock has zoomed 86 per cent from its 52-week low level of ₹189.60 on April 7, 2025.

 

Eternal Q2 results: Brokerages expect strong results Q-o-Q

 

According to consensus brokerage estimates, tracked by Business Standard, Eternal may report a net profit of ₹69.05 crore for Q2FY26 as compared to ₹25 crore in Q2FY25 on the back of change to an inventory-led model in the case of Blinkit. The company's revenue for the quarter under review is expected to increase 43 per cent in Q2FY26, on average, to ₹6,841.25 crore as compared to ₹4,799 crore a year ago. However, on a quarter-on-quarter (Q-o-Q) basis, the revenue is poised to decline 5 per cent from ₹7,167 crore in Q2FY25. CLICK HERE FOR MORE DETAILS

 

Meanwhile, Eternal's management remains confident of the long-term growth outlook of 20 per cent plus yearly net order value (NOV) growth in the food delivery business as the fundamentals - low penetration of restaurant food and increasing urbanisation and per capita income in India – remain unchanged.  ALSO READ | Motilal Oswal says 'Buy' Swiggy shares, sees 26% upside target; here's why

Eternal stock outlook: Brokerages see further upside

 

Analysts at JM Financial Institutional Securities believe Eternal is likely to report improving trends across both its key businesses in the near term. The brokerage firm said they, therefore, reiterate its bullish view on Eternal with a revised September 2026 target price of ₹400 that values its stock at 80x NTM EPS (75x earlier).

 

Analysts believe Blinkit will continue to report meaningful market share gains (in NOV terms) in quick commerce in the near term on the back of its fast-growing quality customer base and accelerated pace of supply chain (dark stores + mother hubs) expansion across 100+ cities. The business also remains on track to break-even in Q3FY26 on the back of scale benefits and the recent shift to an inventory-led business model.

 

In Zomato (food delivery) too, NOV growth seems to have bottomed out and Y-o-Y trends could see some acceleration Q2FY26 onwards on the back of an easing base. Further, food delivery margins are likely to be stable, within the sustainable range of 5-6 per cent as a percent of NOV, as adverse impact of lowering of MOV will likely be offset by platform fee increase, the brokerage firm said in a company update.

 

Meanwhile, Kotak Securities have a 'buy' rating on Eternal with a fair value of ₹375 per share. The brokerage firm expects Eternal to report healthy GMV performance in Q2FY26. It expects food delivery to report a sequentially flat Ebitda margin of 4.2 per cent of GOV and expect Blinkit to continue to rapidly add stores.

 

Analysts expect a reduction in Ebitda loss to ₹92 crore from ₹162 crore in Q1FY26, driven by higher CM (shift to the 1P model) and lower ad spends. Key monitorables from the result will be the commentary on competitive intensity and timelines on Blinkit’s expansion to 3,000 stores.