Eternal Limited shares surge 36% in six months as quick‑commerce gains momentum

Eternal Limited’s shares jumped almost 36% over the past six months, drawing fresh bullish calls from analysts. The stock closed at ₹323.35 on the Bombay Stock Exchange on Friday, October 9, after a modest rise of about 3% in the last week. Over the last three months the share price rose 10.64%, and in six months it climbed 35.92%. Analysts point to rapid growth in the company’s quick‑commerce arm Blinkit, steady customer retention and a broader customer base as key drivers. Joindre Capital Services Limited notes that Blinkit’s long‑term adjusted EBITDA margin guidance has been lifted to roughly 6%, up from the earlier 5‑6% range, thanks to higher capital spending per store, larger store formats and better productivity. The brokerage also highlights that affordability is spurring demand without eroding margins, and that Eternal’s District app, which sells tickets for movies, live events, dining and sports venues, adds another growth avenue. The firm’s outlook remains positive, but strong competition in the quick‑commerce segment is flagged as a risk. Joindre Capital says future growth will rely more on store density and execution than on price cuts. The brokerage has given the stock a “Buy” rating and set a target price of ₹390 per share, implying an upside of about 22.1% based on a sum‑of‑the‑parts valuation. ## Context Eternal Limited is the parent of food‑delivery giant Zomato and the quick‑commerce service Blinkit, both of which have become central to India’s fast‑moving consumer market. Strong performance in these units often influences the broader Indian e‑commerce landscape.