Eternal Share Price Surges 6% Amid Stock Market Rebound, Analysts Predict 70% Further Growth

Eternal Share Price Rebounds 6.12% Following Value Buying

On March 16, Eternal share price staged a smart rebound, emerging as the best-performing Sensex stock. The stock rose as much as 6.12% to ₹235.65 on the BSE, with the BSE Sensex extending yesterday's pullback rally to reclaim the 76,000 mark.

Recent Performance

Eternal's share price has corrected by 39.7% from its 52-week high of ₹368.40, based on Monday's closing levels. The correction started in the December quarter, with the stock shedding almost 30% during this period. Last year, Eternal stock ended flat, up 0.04%, after rallying 125% in 2024 and 108% in 2025.

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Analyst Views

JM Financial reiterated its positive view on the stock, suggesting that Eternal's valuation appears increasingly compelling relative to its long-term growth prospects following the recent correction. The brokerage believes that while global events are hard to predict, Eternal - particularly its Blinkit business - shall emerge stronger once macro normalises.

Forecast

In Q4FY26E, Blinkit's NOV is likely to expand by low double-digit QoQ, despite high competitive pressures. JM Financial expects a decent uptick in its adjusted EBITDA margin to 0.4% of NOV versus breakeven in 3QFY26. For Zomato, the brokerage maintained the NOV growth forecast of ~18% YoY for Q4FY26E, with a high probability of growth even if 25% of orders are disrupted in the final weeks of the quarter.

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Recommendation

JM Financial recommends investors with a 12-18 months' horizon to aggressively accumulate Eternal at these levels, as the stock is attractively priced at 35x Mar'28E PER. The brokerage has cut its target NTM PE to 65x (from 75x), factoring in global macros and competitive risks, but maintained its target price at ₹400 on a rollover to Mar'27E.