Zomato parent Eternal jumps 3% on Goldman Sachs's 'Buy' rating

Business Sep 18, 2025

Eternal Ltd., which owns Zomato, saw its shares jump nearly 3% on Thursday, marking four days in a row of gains.
The boost came after Goldman Sachs kept its "Buy" rating and bumped up the price target to ₹360—suggesting there's still about 10% more room to grow.

Blinkit is the main reason for the bullishness

Goldman Sachs pointed out that Blinkit, Eternal's quick-commerce arm, is growing way faster than expected—projecting FY27 order values to be 80% higher than last year's estimates.
With plans to double store count in the next couple of years and a shift to a first-party model (which could improve margins), things are looking up.
Goldman even expects Blinkit to break even by December 2025 and says the stock could rise as much as 44% if all goes well.