Eternal Block Deal: Goldman Sachs discharges RS 355 CR WORTH of shares, Bofa Securities step in as copper

Goldman Sachs sold more than 1 crore shares from Food Lever and Quick Commerce Company Eternal Limited on Friday for RS 355.32 Crore where the buyer was Bofa Securities. The shares were sold at a price of RS 329 each, just over the Wednesday closing race.

Nowadays, the eternal shares at RS 328.20 closed on the NSE and glide marginal at RS 0.80 or 0.24% over the previous final race.

On September 22, Eternal shares reached their all-time high from RS 343.90. Eternal shares are currently being traded above their 50-day and 200-day simple advancing averages (SMAS) of RS 319.3 and RS 259.3 according to Trendlyne data.

The rally came in the midst of high volatility with 1 year beta of 1.3, suggested the proposed trendlyne data. The share has yielded 20% return over a period of 1 year that performs better than Headline Indices Nifty and BSE Sensex, the return of which is more than negative 3%.

Recently, International Brokerage HSBC has repeated its ‘buy’ call on Eternal, which increases its target price to RS 390 per share of RS 340, with reference to clear scale and profitability leadership in both food delivery and fast trade.

Also read: BNP Paribas acquires RS 1,806 crore in Stakes in Nifty Stocks Hero MotoCorp and Indusind Bank via Bulk Dealeternal, which consolidates Zomato and Blinkit, remains better than rival Swiggy on both operational and financial metrics. In rapid trade, the net order value of Blinkit (NOV) increased by 125% on an annual basis in Q1 FY26, far for Swiggy’s Instamart, which rose by 75%. Eternal (formerly Zomato) recently reached another milestone in her market trip, which Tata Motors and Titan had in market capitalization. The market value of the company is now on RS 3.16 Lakh Crore, above the RS 2.63 Lakh Crore from TATA Motors and Titan’s RS 3.06 Lakh Crore.

The food delivery company had reported a decrease of 90% on an annual basis (JoJ) in the consolidated net profit for Q1FY26, on RS 25 Crore compared to RS 253 Crore in the same quarter last year. The turnover from the activities of RS 7,167 Crore, an increase of 70% compared to RS 4,206 Crore a year ago.

The sharp drop in profit was due to the continuous investments in a fast trade segment and going out.

The company also reported a yojsprong of 15% in its Q1FY26 costs to RS 2,137 Crore, mainly under heads such as ‘delivery and related costs’ and ‘advertising and sales promotion’.

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(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)