Eternal block deal: Goldman Sachs offloads Rs 355 cr worth of shares, BofA Securities steps in as buyer

Goldman Sachs on Friday sold over 1 crore shares of food deliver and quick commerce company Eternal Limited for Rs 355.32 crore where the buyer was BOFA Securities. The shares were sold at a price of Rs 329 apiece, flat over the Wednesday closing price.

Today Eternal shares closed at Rs 328.20 on the NSE, sliding marginally at Rs 0.80 or 0.24% over the previous closing price.

On September 22, Eternal shares hit their all-time high of Rs 343.90. Eternal shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 319.3 and Rs 259.3 according to Trendlyne data.

The rally has come amid high volatility with 1-year beta of 1.3, the Trendlyne data suggested. The stock has delivered 20% returns over a 1-year period outperforming headline indices Nifty and BSE Sensex, whose returns are over negative 3%.

Recently, international brokerage HSBC has reiterated its ‘Buy’ call on Eternal, raising its target price to Rs 390 per share from Rs 340, citing clear scale and profitability leadership in both food delivery and quick commerce.

Also Read: BNP Paribas acquires Rs 1,806 crore worth stakes in Nifty stocks Hero MotoCorp and IndusInd Bank via bulk dealsEternal, which consolidates Zomato and Blinkit, continues to outperform rival Swiggy on both operational and financial metrics. In quick commerce, Blinkit’s net order value (NOV) surged by 125% year-on-year in Q1 FY26, far ahead of Swiggy’s Instamart, which rose by 75%.Eternal (formerly Zomato) recently reached another milestone in its market journey, surpassing Tata Motors and Titan in market capitalisation. The company’s market value now stands at Rs 3.16 lakh crore, above Tata Motors’ Rs 2.63 lakh crore and Titan’s Rs 3.06 lakh crore.

The food delivery company had reported a 90% year-on-year (YoY) drop in consolidated net profit for Q1FY26, at Rs 25 crore compared to Rs 253 crore in the same quarter last year. The revenue from operations of Rs 7,167 crore, up 70% from Rs 4,206 crore a year ago.

The sharp decline in profit was on account of the continuing investments in quick commerce segment and going-out.

The company also reported a 15% YoY jump in its Q1FY26 expenses to Rs 2,137 crore, primarily under heads such as ‘Delivery and related charges’ and ‘Advertisement and sales promotion’.

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