Eternal soars 10% as Blinkit reports strong performance
Mumbai: Shares of online delivery company Eternal surged more than 10% on Tuesday despite a sharp fall in fiscal first quarter net profit as brokerages raised target prices after strong management commentary and the company’s quick commerce platform, Blinkit, recording robust performance during the period.
The stock hit an all-time high of ₹311.3 during the day, before closing 10.3% higher at ₹299.8 on the NSE. The rally boosted Eternal’s market cap to more than ₹3 lakh crore during the day, surpassing major Nifty 50 constituents, including Wipro, Tata Motors, JSW Steel, Nestle India, and Asian Paints.
