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- Eternal shares up more than 5% intraday, as investor confidence returned following a bullish note from Morgan Stanley.
Eternal Ltd (Zomato’s parent company) saw a strong session on Thursday, with the stock touching ₹258.30, its highest level in months. This puts its two-day gain past 8%, fueled by heavy volumes and fresh optimism around quick commerce.
The upside followed Morgan Stanley’s latest coverage, where the firm reiterated its Overweight rating and left the target price at ₹320. That’s a 24% jump from current levels. The brokerage also flagged Eternal as one of its top picks in India’s internet sector, pointing to stable cost controls, delivery scale, and strong traction outside top metros.
Notably, Morgan Stanley raised India’s quick commerce TAM to $57 billion by 2030, up from $42B, calling out stronger adoption and improved infrastructure.
Even with Q4 numbers showing a 77.7% dip in net profit (₹39 crore vs ₹175 crore YoY), revenue grew 63.8% to ₹5,833 crore. EBITDA fell 16.3% to ₹72 crore, and margin softened to 1.23%, but the top-line strength is what investors seem to be pricing in.
Eternal Share Price Levels to Watch
- Momentum looks clean above ₹245. The next resistance sits at ₹275 — a level that capped the stock in late January. If buyers break past that, ₹305 could follow.
- Below ₹240, short-term support holds. A slide under ₹230 would suggest this rally is fading, at least in the near term.
- For now, the bulls are back in control, and the quick commerce growth story is
