ETERNAL
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Elara Capital raises Eternal allocation to 85-90%, avoids Swiggy
Karan Taurani, EVP at Elara Capital, has increased his preference for food delivery and quick commerce major Eternal to 85-90% of his allocation within the sector, up from 70-75% earlier, while turning more cautious on rival Swiggy. "Swiggy is high risk, high reward. It is entirely betting on the internal execution," Taurani said.
Eternal to cut 250 jobs, close Hyderabad support centre
Eternal has announced layoffs of approximately 250 employees and the closure of its Hyderabad customer support centre, as reported by CNBC TV18. A subsequent article in Today News shifts focus to Zomato's ban on analogue dairy dishes, which appears to be a separate development but may be tangentially related to broader food-tech industry moves. The layoff story remains at its initial announcement stage with no further details on severance or timeline.
Eternal Stock Rallies Over 20%
However, a promising start to FY27 sparked a sharp rebound, with the stock rallying 10% in just two sessions and about 21% in the last month. Despite the recent gains, the food delivery major trades 20% below its October peak of Rs 368 per share, based on the previous closing price. Even after the correction, most analysts have largely maintained their bullish stance on the stock and continue to point to robust growth levers that could support Eternal's performance in the coming quarters.
Eternal shares surge post Q1 profit
Eternal shares rose 2.4 per cent on the NSE to ₹291.35 on Thursday after the company reported a consolidated net profit of ₹92 crore in the June quarter. The stock gained as brokerages highlighted strong execution, accelerating growth in food delivery and quick commerce, and improving profitability despite elevated competition. CLSA retained its high conviction outperform call with a target price of ₹506, saying the first quarter reinforced its view on strong execution.
US-Iran tensions disrupt Q1 earnings reports
Despite US-Iran tensions, market focus remains on quarterly financial results with key companies reporting varied outcomes. Bajaj Auto and NTPC among recommended stocks for Thursday.
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