India's Eternal tops Nifty 50 after Goldman Sachs disagrees over 'extent of bearishness'

Eternal

09/01/2026 04:45

** Shares of Eternal ETEA.NS jump 3% to 293 rupees, top pct gainer on largely flat benchmark Nifty 50 .NSEI index .BO

** Goldman Sachs keeps "buy" rating, trims PT to 375 rupees from 390 rupees on co, the parent of food delivery platform Zomato and quick-commerce Blinkit

** Says recent 14.6% Oct-Dec selloff vs 6.2% Nifty 50 gain reflects "elevated competition narratives, quick-commerce slowdown expectations"

** "We disagree with the extent of bearishness" being priced into ETEA - note

** Stock, on an avg, rated "buy" by 31 analysts; median PT 400 rupees - data compiled by LSEG

** ETEA unchanged in 2025 vs rival Swiggy's SWIG.NS 29% decline

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))