Eternal (formerly Zomato) just hit a record high of ₹372 per share, closing at ₹361, an incredible 375% jump from its IPO price of ₹76 back in 2021.
The stock is up 30% this year alone and has bounced back strongly from its March low, making it one of the standout IPOs in recent years.
Blinkit net order value up 79.3%
A big reason behind Eternal's rise is Blinkit, its quick commerce arm, which saw net order value surge 79.3% year over year after adding 308 net new stores.
With plans to cross 3,500 stores by next March and steady food delivery business, brokerages remain upbeat: Motilal Oswal sees more expansion ahead, while Kotak Neo still rates the stock a buy with a target price of ₹435.