By S. JHA
Eternal Share Price Today: Stock Gains for Third Straight Session — Here’s What Technicals and Trends Reveal
Mumbai, July 28, 2026 — Shares of Eternal Ltd, the parent company of Zomato and Blinkit, extended their recent winning streak, gaining momentum on heavy trading volume and continuing a rally that has now stretched across multiple sessions.
Eternal stock touched an intraday high of ₹309 and low of ₹297 on Tuesday, gaining almost 6% on the BSE amid heavy volume. Yesterday, the stock had climbed 7% with a combined 23.55 million equity shares changing hands on the NSE and BSE. The stock has outperformed the broader market this month, gaining 15% in July 2026 so far, compared to a modest uptick in the benchmark Sensex.
The stock’s latest close of ₹309 puts it well above its 52-week low of ₹212.60, though still shy of its 52-week high of ₹368.45.
What’s Driving the Rally
The current uptrend traces back to Eternal’s June-quarter (Q1 FY27) earnings. The company posted a massive surge in its share price, touching a fresh all-time high after a 7% jump the previous session, driven by its April-June quarter earnings. Despite a sharp decline in quarterly profit, Blinkit’s revenue outpaced Zomato’s food delivery business for the first time, with Blinkit’s Q1 revenue at ₹2,400 crore versus Zomato’s ₹2,261 crore.
Total revenue from operations came in at Rs 20,211 crore, significantly higher than the same quarter last year, while consolidated net profit stood at Rs 92 crore compared with Rs 25 crore a year earlier.
Beyond earnings, index-related tailwinds have added fuel to the move. The stock’s rise has also been linked to expectations of a favourable adjustment in the upcoming MSCI August review, with Eternal expected to be restored to its full weight on the MSCI global standard index.
Technical Levels to Watch
On the charts, Eternal is trading well above both its short- and long-term trend lines. The 50-day moving average stands at ₹263.38 and the 200-day moving average at ₹275.77, with the stock’s current price comfortably above both — a classic bullish technical setup.
For near-term support and resistance, brokerage desks have flagged specific zones ahead of the monthly derivatives expiry. On the downside, ₹283.55 is seen as the immediate support, followed by ₹264.80. Options data heading into the expiry showed the at-the-money strike at 290, with traders eyeing a broader range of ₹283 to ₹303 for a directional move.
TradingView’s technical scorecard shows a mixed-to-improving picture: Eternal’s overall technical rating is currently neutral, though its one-week rating stands at buy.
What Brokerages Are Saying
The stock has drawn a wave of bullish analyst commentary following its results. Of the 29 latest analyst recommendations on the stock, 27 remained ‘Buy’, ‘Outperform’ or ‘Overweight’, with the consensus target implying more than 20% upside from current levels. Analysts at JM Financial, Emkay Global and Elara Securities have set a target of Rs 400 each, while Jefferies’ Vivek Maheshwari has pegged a target of Rs 415, and Axis Capital’s Gaurav Malhotra sees the stock reaching Rs 405. The most bullish call comes from CLSA’s Aditya Soman, who has set a target of Rs 506 — implying a potential upside of 75% from levels seen just before the earnings.
Not every desk is uniformly optimistic on near-term earnings, however. Motilal Oswal Financial Services trimmed its FY27E EPS estimate by 7%, largely on account of higher-than-expected tax in the June quarter, while keeping its FY28E estimates unchanged.
Broader Re-rating Picture
The rally isn’t isolated to Eternal alone — it reflects a broader re-rating of India’s quick-commerce and food-tech space. Rival Swiggy also rallied alongside Eternal, with the two stocks moving on heavy volume as the quick-commerce theme gains renewed investor attention. Quick commerce’s share of India’s online retail market has risen sharply — from roughly 0.23% in FY20 to about 8.86% in FY25 — and is projected to touch 30-33% by FY30, a structural shift brokerages say continues to underpin the sector’s re-rating.
(Disclosure: This is a market analysis piece for informational purposes only and should not be construed as investment advice. Please consult a registered financial advisor before making investment decisions.)
Follow The Raisina Hills on WhatsApp, Instagram, YouTube, Facebook, and LinkedIn
