India's Eternal climbs after Jefferies downplays worries over Blinkit, leadership shift

Eternal

28/01/2026 10:04

** Shares of Eternal ETEA.NS, Indian online delivery firm, rise 5.1% to 266.90 rupees apiece; set to snap three-session losing streak

** Last week, Co posted sequential rise in Q3 profit and said founder Deepinder Goyal will step down as CEO and MD

** Jefferies says ETEA fell 10% post Q3 results on investors concerns over leadership change and Blinkit's profitability

** However, Blinkit has consistently delivered best‑in‑class unit economics (incl. in 3Q), and hence, we do not see any concern on this front, Jefferies says

** Jefferies maintains "buy" rating on stock; PT at 480 rupees- second highest among 31 analysts tracking ETEA

** Despite Goyal's transition, he remains closely engaged in strategy, culture, and governance at Eternal, ensuring continuity - Jefferies

** Avg rating on stock is "buy"; median PT of 390 rupees - data compiled by LSEG

 (Reporting by Brijesh Patel in Bengaluru)

 ((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))