Eternal Joins Market Royalty With ₹3 Lakh Crore Valuation, Surpasses Nifty50 Giants

Image Source : The Economic Tmes

Eternal Ltd, the parent of Zomato and Blinkit, has surged to a record market capitalization of ₹3 lakh crore, overtaking over 20 Nifty50 heavyweights including Wipro, Tata Motors, JSW Steel, and Nestle India. The rally follows a strong Q1 FY26 performance and bullish investor sentiment around its quickcommerce vertical.

Key Highlights From The Market Milestone

Eternal’s stock hit an alltime high of ₹311.6 on July 22, up 15 percent intraday, before settling around ₹299.1.
Blinkit’s Net Order Value rose 127 percent yearonyear to ₹9,203 crore, surpassing Zomato’s food delivery NOV for the first time.
Q1 revenue jumped 70 percent to ₹7,167 crore, while losses narrowed in the quickcommerce segment, improving margins from 2.4 percent to 1.8 percent.
The company added 243 new dark stores, taking the total to 1,544, and expanded warehousing to 5.6 million sq ft.

Brokerage Sentiment And Strategic Impact

Jefferies raised its target price to ₹400, citing Blinkit’s growth and operational leverage; CLSA and JM Financial also upgraded their outlook.
Info Edge’s stake in Eternal is now valued at ₹40,000 crore, accounting for over onethird of its own market cap.
Eternal’s valuation now exceeds that of Bharat Electronics, Power Grid, and Avenue Supermarts, placing it among India’s top 25 most valuable companies.

Investor Takeaway

Eternal’s rise reflects a shift in market perception—from a lossmaking tech firm to a strategic leader in hyperlocal commerce and digital consumption.

Sources: Zee Business, CNBC TV18, Business Today, MSN India, Economic Times, Fortune India.