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Eternal share price jumps nearly 6%; Zomato parent among top Sensex gainers; check why the stock is rallying today

Word Count: 641 | Estimated Reading Time: 4 minutes

NEW DELHI: Shares of Eternal Ltd, the parent company of food delivery platform Zomato, surged nearly 6% on Thursday, extending its two-day rally to over 8%. The upward momentum followed Morgan Stanley reaffirming the company as its top sector pick. The brokerage firm kept its target price at Rs 320, suggesting a possible 33% upside from current levels. It also set a lower range of Rs 200-220, calling the stock a “compelling risk-reward profile” for long-term investors.At 12:30 PM, Eternal was trading at Rs 258.93, a 5.39% gain from its previous close of Rs 245.68. By 11:40 AM, it was trading at Rs 259.10 on BSE, up Rs 13.60 or 5.54%, while on NSE, it stood at Rs 259.49, rising Rs 13.81 or 5.62%.The shares opened at Rs 247.30 on the BSE and hit a high of Rs 260.15. On the NSE, they started at Rs 248.00 and climbed to Rs 260.22 during early trading hours.Over the past three months, Eternal has gained 14%, though it remains 7% down year-to-date. The company’s market capitalisation currently stands at Rs 2.49 lakh crore.In its Q4 earnings report, Eternal posted a 77.7% year-on-year drop in consolidated net profit to Rs 39 crore, compared to Rs 175 crore in the same period last year.The company’s operational revenue demonstrated substantial growth, increasing by 63.8% to reach Rs 5,833 crore, up from Rs 3,562 crore in Q4FY24. The company maintains its position on the Nifty50 index with a market capitalisation of Rs 2.49 lakh crore. The share price currently stands between its 52-week parameters, above the lowest point of Rs 146.30 but beneath the peak of Rs 304.70.BSE Sensex, rose by 197.83 points to reach 81,196.08 when trading began on Thursday. Similarly, the NSE Nifty registered an increase of 71 points, reaching 24,691.20.Among the Sensex companies, notable gainers included Eternal, Power Grid, Reliance Industries, Sun Pharm, Mahindra & Mahindra, HCL Tech, Adani Ports and NTPC. On the other hand, companies such as Bajaj Finance, Bajaj Finserv, Nestle and Hindustan Unilever experienced declines in their share values.

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