Eternal Eteans Rockets 2.5%: Claims Top Spot Among Nifty 50 Gainers Amid Quick Commerce Surge

Eternal's rally underscores resilience in India's hyper-competitive quick commerce space. Formerly Zomato, the firm has pivoted aggressively, with Blinkit now driving core growth amid Swiggy and Zepto rivalry. Strategic moves like inventory ownership and store expansions signal long-term dominance.

Trading volumes spiked to 3.81 crore shares worth ₹1,08,425 lakhs, indicating sustained interest. Analysts eye bullish divergence on charts for targets up to ₹330 short-term, though high valuations warrant caution.

Key Highlights

• Shares advanced from around ₹277-280 to ₹286.30, topping Nifty 50 with 2.5-2.84% gains in recent sessions.
• Quick commerce arm Blinkit outperforms food delivery; Q2 revenue up 70% YoY to ₹7,167 crore, market cap hits ₹3 lakh crore.
• Consolidating near ₹295-300 support post-30% correction; Jefferies maintains Buy at ₹480 target on strong unit economics.
• Heavyweights like ICICI Bank (2.38%), HDFC Bank (1.65%) followed, boosting Nifty reclaim above 25K.

Sources: NSE India, Economic Times, Upstox, Moneycontrol