Eternal stock nears peak as Jefferies sees INR 430 target

Eternal stock traded at INR 358.80 on the BSE at 1:04 p.m. IST on Thursday, November 5, according to Business Standard. The report said the share price had risen about 18 percent over the previous two weeks and was close to its record high of INR 368.40.

Quick commerce drives the outlook

Jefferies sees Eternal's food-delivery revenue compounding at 20 percent through FY26-29E in its base case. The brokerage expects scale to improve unit economics as the company gains cost efficiencies and customers continue to pay for delivery convenience.

Blinkit is the key growth engine in the analysis. Business Standard reported that analysts consider it the only profitable player in India's fast-growing quick-commerce market and expect margins to improve as the business reaches a steadier operating scale.

Jefferies values Eternal's food-delivery business at 40 times December 2028 estimated adjusted EBITDA, quick commerce at 1.2 times estimated revenue, Hyperpure at 1 times revenue and Going-Out at 1.5 times gross order value. That framework produces a base-case price target of INR 430. Its upside case, based on higher valuation multiples and 22 percent food-delivery revenue growth, reaches INR 520.

Business mix remains broad

Eternal's investor-relations site describes four operating areas: food delivery, quick commerce, going-out and B2B supplies. That mix gives the company exposure to restaurant ordering, fast delivery, consumer experiences and food procurement, while also leaving execution and margin performance central to the investment case.

Investors can follow the real-time quote of Eternal stock for the latest trading indication.

The BSE Sensex advanced in Thursday's session as broader Indian market sentiment improved; current Sensex market coverage provides the wider context.

More news and analyses on Eternal stock will focus on Blinkit's expansion, food-delivery growth and the path to sustainable profitability.