Following the announcement of a major shift in the upper management roles and the release of the third-quarter report for the current fiscal year, the share price of Eternal, the parent company of Zomato and Blinkit, witnessed a significant surge. The stock climbed as much as 7.33 per cent during Thursday’s trading session, reaching ₹304 on the Bombay Stock Exchange. The rally followed a day after founder Deepinder Goyal announced his decision to step down as CEO.
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Volatile trading session despite early gains
On Thursday, the broader market rebounded after three consecutive days of decline. Eternal’s stock, however, failed to sustain its early momentum. While the share price gained nearly 7 per cent in morning trade, it began sliding later in the session. By market close, the stock had fallen 2.69 per cent to ₹275.90, marking the steepest decline among Nifty50 stocks for the day.
Strong Q3 performance boosts investor interest
Eternal operates online food delivery platform Zomato and quick commerce service Blinkit. The company reported a 73 per cent year-on-year rise in net profit for the October–December quarter of 2025, with profit increasing to ₹102 crore. Revenue also recorded sharp growth, rising 201 per cent compared to the same period last year to ₹16,315 crore. EBITDA grew by 28 per cent during the quarter.
The company attributed this overall performance primarily to rapid expansion in its quick commerce business.
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Leadership transition
On Wednesday, Deepinder Goyal resigned from his roles as Director, Managing Director and CEO of Eternal, effective February 1. Blinkit CEO Albinder Singh Dhindsa will take over as the company’s new CEO.
Several brokerage firms remain optimistic about Eternal’s prospects and have retained a ‘buy’ rating on the stock. The company’s third-quarter results exceeded market expectations. Nuvama has raised its target price for the stock from ₹400 to ₹430, while Motilal Oswal has lowered its target to ₹360. This indicates that despite strong business growth, analysts believe uncertainty around the stock cannot be entirely ruled out.
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