Street View: Brokerages upbeat on Eternal's food delivery, quick commerce growth

Eternal

23/07/2026 05:29

** Zomato-owner Eternal Ltd ETEA.NS posted a rise in Q1 profit on Wednesday, driven by rising profits in its food delivery business and quick commerce arm, Blinkit
** Stock marginally up about 1% at 287.20 rupees, up about 8.5% this month

PROFITABLE GROWTH, DEMANDING VALUATION
** Citi ("Buy", raises PT to 385 rupees from 360 rupees) notes that Eternal is solidifying its leadership position in the quick commerce segment with many structural advantages that discounts from competitors alone are unlikely to threaten or disrupt
** Jefferies ("Buy", raises PT to 415 rupees from 400 rupees) says that while Eternal's quick commerce outcome was positive, Blinkit missed their optimistic forecast but food delivery accelerated with better-than-expected profitability
** Emkay ("Buy", raises TP by 8.1% to 400 rupees) expects competitive intensity to remain elevated in the upcoming festive season but notes that Blinkit has demonstrated ability to retain market share while maintaining profitability
** Ambit ("Sell", TP at 234 rupees) says Eternal's valuation prices in aggressive long-term growth and profitability for Blinkit, assumptions it believes will be difficult to achieve given competitive pressures and limits to quick-commerce expansion
     
     

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com; (+91) 8296756080))