Eternal share price rallied as much as 6.70% to ₹308.05 apiece in Tuesday’s session on heavy trading volumes. According to data available on NSE, the trading volume of the stock stood at 9.91 crores as of 3.15 pm. Meanwhile, on the BSE, total traded shares came in at 48 lakh, more than double the two-week average of 22.21 lakh shares.
The new-age stock opened at ₹291 in the early morning session on Tuesday, as compared to the previous close of ₹288.85.
According to a report by Moneycontrol, a large block deal was executed in Eternal, wherein 1.19 crore shares of the company changed hands. The block deal was worth close to ₹344 crore, the report added. However, Mint could not independently verify this.
Eternal stock has surged over 8.37% in the past five sessions and 6.61% in a month, signalling investor interest in the counter following its Q3 results and leadership change.
Eternal’s recent business developments
According to a Business Standard report, Eternal on Monday announced the launch of a dedicated AI-powered hotline aimed at streamlining the onboarding process for delivery partners. According to a company statement, as quoted by BS, “the call triggers an AI-enabled WhatsApp journey through which onboarding and background verification are completed within minutes.”
On February 6, the company informed in an exchange filing that Zomato Netherlands B.V., a step-down subsidiary of Eternal, has been officially dissolved.
“We wish to inform you that Zomato Netherlands B.V., a step-down subsidiary of Eternal Limited (formerly known as Zomato Limited) has been dissolved with effect from January 27, 2026. The Company received communication confirming the same yesterday, i.e., February 05, 2026,” it said.
Meanwhile, on January 21, Deepinder Goyal stepped down as the company’s managing director and CEO.
“I am writing to formally tender my resignation as Director, MD & CEO of the Company, along with various committees I am a part of, effective from the close of business hours on February 1, 2026,” Goyal said in an exchange filing.
Goyal further informed that Albinder Dhindsa (Albi) will be Eternal’s new Group CEO.
Eternal Q3 results 2026 highlights
The company posted a robust set of earnings for the December quarter. Eternal‘s Q3 net profit grew 73% year-on-year (YoY) to ₹102 crore for the December quarter.
Consolidated revenue from operations surged more than threefold to ₹16,315 crore, compared with ₹5,405 crore in the corresponding quarter last year.
Consolidated adjusted EBITDA rose 28% YoY and 63% quarter-on-quarter (QoQ) to ₹364 crore. Business-to-consumer NOV (net order value) climbed 55% YoY and 11% QoQ to ₹25,732 crore, surpassing an annualised run rate of ₹1 lakh crore, the company said.
The company added that the recovery in food delivery NOV growth continued, with Q3FY26 NOV increasing 16.6% YoY and 4.5% QoQ. Gross order value (GOV) expanded 21.3% year-on-year and 5.2% sequentially.
Eternal noted that its quick commerce NOV growth remained strong at 121% YoY and 14% QoQ, despite the impact of GST changes and seasonal factors.
“Like-for-like NOV growth stood at 130%+ YoY. As many as 211 net new stores were added in the quarter, taking the total store count to 2,027 stores as at the end of the quarter (about 70 stores short of our guidance of 2,100 stores),” said the company.
Eternal share price: Should you buy or sell?
Brokerage firm Emkay Global Financial Services has maintained a ‘buy’ rating on the Eternal stock; however, it cut the target price by 14% to ₹370 from ₹430.
“We remain convinced about the long-term opportunity in QCom in India, strong underlying unit economics of the business at maturity, and Blinkit’s superior execution versus other players. However, we are concerned about the near-term increase in competitive intensity due to new entrants. The QCom industry is in a land-grab phase, which means that the path to optimal profitability will be slow, and volatile, in our view. The stock trades at 38x FY28 EV/EBITDA. We maintain BUY, but cut TP by 14% to Rs370,” the firm said in a recent report.
Meanwhile, brokerage firm Axis Securities has also given ‘buy’ rating to the stock, with a target price ₹360, saying that Zomato has built a resilient business model by securing multiple strategic verticals and delivering broad-based growth, from long-term prespective.
“Near-term challenges, such as rising competitive intensity and rapid store expansion, are likely to keep profitability under pressure. Consequently, we recommend BUY and value the stock at ₹360/share based on an SOTP valuation, implying a 27% return from the CMP,” the brokerage firm added.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
