Shares of Eternal, the parent company of Zomato, have remained volatile for the past one month, raising concerns among investors about the stock’s direction. Over the past year, the stock has risen 12%. In the last six months, it climbed 29%. But in the past three months, it has slipped more than 4%. In the last one month alone, the stock has dropped 10%.
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Stock swings sharply between 52-week high and low
In April this year, Eternal shares had fallen to ₹189.60 which is the lowest level in the past 52 weeks. By October, the stock surged to ₹368.40, its 52-week high. The price movements have been sharp within a short period. On Wednesday, the stock rose 0.75% to trade at ₹308.
In this backdrop, what are market experts advising?
Brokerage firm Morgan Stanley has maintained its overweight rating on Eternal. The target price has been revised from ₹420 to ₹427. This indicates a potential upside of 38% from the current level. The brokerage believes the recent 14–15% correction has made the stock attractive for long-term investment. A strong support zone lies between ₹280–₹285. Experts suggest that buying the stock around this range could offer long-term gains.
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(Disclaimer: Ei Samay Online does not recommend investing. The stock market and all investments carry risks. Proper research and expert consultation are advised before making any investment decisions. This report is for educational and awareness purposes only.)
