Eternal share price extends rally for second straight session. Stock up 16% in six days; more steam left?

Shares of Eternal, the parent company of foodtech and quick commerce platform Zomato, surged nearly 6% on Thursday, extending their upward momentum amid robust buying interest. Eternal shares rose as much as 5.9% to ₹260.22 apiece on the NSE, emerging as the top gainer on the Nifty 50 index.

The rally in Eternal share price was supported by heavy trading volumes, with around 11 crore shares changing hands on the exchanges — significantly higher than Eternal stock’s monthly average trading volume of 8 crore shares.

Eternal shares have risen approximately 16% over the last six sessions, posting gains in five out of the past six trading days.

The stock’s recent uptrend was buoyed by a bullish report from Morgan Stanley, which reaffirmed its ‘Overweight’ rating on Eternal. The global brokerage cited the company’s leadership position in food delivery and quick commerce, along with a strong balance sheet and cost-efficient operations, as key drivers of its positive outlook.

Morgan Stanley has maintained a Eternal share price target price of ₹320, implying an upside of over 30% from the previous closing level.

The brokerage also raised its gross order value (GOV) estimates for Eternal’s quick commerce segment for FY26–28 by 9–11%, citing accelerated customer acquisition, a broader city footprint, amid a growing addressable market.

Technical Outlook

Eternal share price has broken out of a bullish flat base ranging between ₹203 and ₹242, with the breakout accompanied by strong volumes, confirming buying interest, noted Anshul Jain, Head of Research at Lakshmishree Investments.

“The immediate resistance for Eternal shares lies at ₹270, and upon clearing this level, the breakout targets ₹286. The volume-supported breakout structure indicates strong momentum, making the stock attractive for traders looking to participate in the ongoing upmove. Pullbacks towards the breakout zone can offer fresh entry opportunities” Jain said.

Eternal Share Price Performance

Eternal share price has delivered a strong performance across timeframes, gaining 7% in the past one month and 13% over the last three months. On a yearly basis, Eternal stock price has risen 40%, while it has delivered multibagger returns of 261% in two years. 

At 3:15 PM, Eternal share price was trading 4.32% higher at ₹256.10 apiece on the BSE.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.