Eternal Shares Rise Amid Analyst Confidence

Shares of Eternal (ETEA.NS) surged 3.3% to ₹292.90 on the National Stock Exchange, extending their winning streak to three sessions. The rebound comes after a prolonged three-month slump of nearly 17%. Investor sentiment improved following Goldman Sachs’ renewed confidence in the company, countering market pessimism.

Key Highlights

• Stock Performance: Eternal shares rose 3.3% to ₹292.90, continuing upward momentum.
• Brokerage View: Goldman Sachs reiterated its “buy” rating, slightly trimming its price target to ₹375 from ₹390.
• Bearish Concerns Addressed: Analysts dismissed exaggerated bearish sentiment, citing Eternal’s strong fundamentals.
• Growth Potential: Goldman Sachs projected a possible 33% upside, highlighting Eternal’s positioning in the online food-delivery sector.
• Market Context: Eternal’s recent 17% decline contrasts with a 3% rise in benchmark indices over the same period.

Sources: Moneycontrol, Goodreturns, Economic Times