Eternal at new high
One stock buzzing loud and clear today is Eternal. This is the listed holding company of Zomato, Blinkit, and Hyperpure, operating across food delivery, quick commerce, and B2B food supplies.
The stock price hit a new 52-week high today at Rs.311.60 and its market cap stands at almost Rs.3 lakh crore, making it more valuable compared to over 20 Nifty 50 constituents.
The stock price has cooled off since the high and is now trading at Rs.295 levels.
The new high is after Zomato and Blinkit reported robust quarterly revenue, lifting expectations for continued growth in its quick-commerce business. During Q1FY25, the earnings from Zomato were good with strong revenue growth and expanding margins. But the market is actually celebrating the success of Blinkit which turned EBITDA positive in key metros. And this arm is now being seen more of a front-runner by many analysts.
It another arm, Hyperpure also saw significant YoY topline growth and improved unit economics.
Eternal Ltd. has no promoter holding (0%), 100% of the company's equity is publicly held. This includes:
- FIIs: 32.1%
- DIIs: 22.7%
- Of which Mutual Funds: 9.4%
- Retail / Individual Shareholders: 25.6%
- Insurance Companies: 3.5%
- Others (NBFCs, Trusts, etc.): 6.1%
- ESOP Trust / Employees: 0.6%