Eternal share price rose 1.36% on Thursday, October 22, as the parent company of Zomato and Blinkit outperformed the broader market following its September-quarter results. Investor sentiment was bolstered by strong operating results, quick-commerce growth, and positive brokerage commentary, while its artificial intelligence platform, Dark.ai, was another positive development to keep an eye on.

Key Highlights

• Eternal shares rose 1.36% despite market weakness as investors assessed quarterly results, operating growth and positive brokerage outlooks.

• Blinkit added 308 dark stores and targets 5,000 locations by March 2028, while Eternal retained its FY29 profitability goal.

Eternal Share Price Today

Eternal shares was up 1.36% at Rs 316.60 on the NSE while the Nifty 50 and Sensex ticked down by close to 1% each. The stock opened at Rs 312 and hit a high price of Rs 317.40 during the trading day, while its low was Rs 306.70. The market cap of its was around Rs 2.87 lakh crore.

The shares rallied Wednesday following the company's results in the second quarter of FY27. Investors are assessing its growth outlook, Blinkit's store expansion plans and the potential commercial opportunity from Dark.ai.

Eternal Q2 Results FY27 Report 35.9% Sequential Profit Growth

In Eternal Q2 Results, consolidated profit jumped 35.9% YoY to Rs 125 crore from Rs 92 crore a year ago, respectively. Revenue from operations grew 19% YoY to Rs 24,138 crore.

Food delivery net order value (NOV) was another bright spot with year-on-year growth of 21.5% compared to the market expectation of 18–20%. Quick-commerce NOV rose 79% and going-out business grew 58%.

The food delivery market is expected to increase by more than 20% within the next 2-3 years, says management. This expansion and the competition it is facing will continue to influence the business with the focus on continuing to grow whilst remaining profitable.

Also Read: Eternal Q3 FY26 Revenue at Rs 16,315 Cr; Deepinder Goyal Steps Down

Blinkit Targets 5,000 Dark Stores by March 2028

Blinkit expanded its network of dark stores by 308 in the quarter, bringing the total to 2,751. Eternal is planning to reach 3,500 stores by March 2027 and 5,000 stores by March 2028, management said, believing the market holds great potential for quick commerce in the long-term.

But near-term profits may be negatively affected by greater growth and more marketing costs. Management said Blinkit's stores in mature cities are operating at an adjusted EBITDA margin of around 5%. Eternal has retained its target of achieving $1 billion in adjusted EBITDA by FY29.

The company's cash balance declined sequentially, partly due to inventory build-up. Investors will monitor whether the expanded network translates into stronger order growth and improved unit economics.

Dark.ai Launch Adds to Eternal's Growth Outlook

Eternal is preparing to launch Dark.ai, an artificial intelligence platform that has reportedly been in development for around a year. The company expects to introduce it over the next few months.

Management has said of the project that it is a “high risk high reward opportunity.” It is not yet clear what kind of commerce and business model it will have, but the introduction might also be a new growth path in addition to food delivery and quick commerce.

Eternal Share Price Target After Q2 Results

Several brokerages maintained positive ratings and raised their price targets following the results. However, Morgan Stanley and CLSA have boosted their estimates to Rs 417 and Rs 513 respectively, from Rs 373 and 506 respectively. JPMorgan lowered its estimate to Rs 420 from Rs 390 while Jefferies increased its estimate to Rs 430 from Rs 415.

Goldman Sachs projected a target of Rs 400, UBS's target was Rs 390, Bernstein had set a target of Rs 350 and Citi had fixed a target of Rs 385. Macquarie continued with an Underperform rating, with a target price of Rs 225, pointing out that the positive view was reflected in the stock price already.

CLSA flagged weaker-than-expected adjusted EBITDA at Blinkit amid faster store additions, particularly in smaller towns. It also cut its FY27–FY29 profit estimates by 38–78% and pushed its expectation for steady-state profitability from FY28 to FY29.

JPMorgan highlighted accelerating quick-commerce growth despite competition, while Jefferies identified Dark.ai as a key development to monitor. UBS pointed to Blinkit's performance and higher store targets.