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Eternal Share Price Target 2025: Shares of Eternal, formerly known as Zomato, opened marginally lower at Rs 308 on the NSE on Tuesday, November 18, even as global brokerage firm Morgan Stanley raised its target price and reiterated its ‘Overweight’ call on the stock. At around 10 AM, the counter was trading near Rs 310 in early with 0.27 per cent gains in early trade.

Morgan Stanley has increased its target price to Rs 427 from Rs 420. This implies an upside potential of more than 38 per cent from current levels. The brokerage said that the recent 14–15 per cent correction offers an attractive entry point, calling Eternal one of the best risk-reward setups in its coverage.

The firm said it likes Eternal’s strategy of focusing on expanding customer market share first, noting that wallet share gains can follow later. It added that even under a stress case scenario — where higher aggression delays profitability — the impact is not a major concern. Morgan Stanley expects the stock to find support in the Rs 280–285 zone.

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Eternal, which operates the Zomato and Blinkit platforms, reported a 63 per cent year-on-year fall in consolidated net profit to Rs 65 crore for the September quarter. The company had posted a profit of Rs 176 crore in the same quarter last year, before the name change to Eternal in March.

Revenue from operations rose sharply to Rs 13,590 crore, compared to Rs 4,799 crore a year earlier, driven by strong performance in the quick commerce division. Total expenses increased to Rs 13,813 crore from Rs 4,783 crore in the corresponding period of last year.

Eternal’s reporting segments include Indian food ordering, quick commerce, Hyperpure (B2B supplies), dining-out, and other smaller units.

Zomato’s food delivery net order value (NOV) rose 14 per cent year-on-year, slightly higher than the 13 per cent growth recorded in the previous quarter. The quick commerce business continued to drive momentum, with NOV surging 137 per cent to Rs 11,679 crore from Rs 4,928 crore a year ago. Adjusted revenue for the segment climbed 756 per cent to Rs 9,891 crore, against Rs 1,156 crore in the same period last year.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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