India's Zomato parent Eternal extends gains; analysts upbeat on strong quarterly results

Eternal

22/07/2025 05:02

** Indian online delivery firm Eternal ETEA.NS climbs 10%to 299 rupees

** The parent of Blinkit and Zomato posted a more-than 70% rise in quarterly revenue on Monday

** Stock jumped 6.4% after the results on Monday

** At least ten brokerages hiked PT post results; at least four upgraded ratings - data compiled by LSEG

** Median PT climbs to 311 rupees compared to 287.50 rupees a month ago - data compiled by LSEG

** Nuvama analysts say quick commerce performance a surprise, with y/y net order value growth of 127% above expectations

** Both Nuvama and Jefferies note margin improvement in future and strong growth; say demand slowdown appears to have bottomed out

** Avg rating of 28 brokerages is "buy" - data compiled by LSEG

** Post-results gains have pulled stock 7.5% higher YTD from declines of 2.3%

** Rival Swiggy SWIG.NS down 27% YTD

 (Reporting by Manvi Pant and Hritam Mukherjee in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))