JM Financial Recommends 'Aggressive Accumulation' of Eternal Shares for 12-18 Months
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JM Financial Recommends 'Aggressive Accumulation' of Eternal Shares for 12-18 Months
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CNBC TV18•17-03-2026, 14:51
JM Financial Recommends 'Aggressive Accumulation' of Eternal Shares for 12-18 Months
•JM Financial advises investors to 'aggressively accumulate' Eternal shares, parent company of Zomato and Blinkit, for a 12-18 month horizon.
•Eternal shares are trading 6% higher but have corrected nearly 40% from recent highs, presenting a buying opportunity.
•The brokerage finds Eternal attractively valued at around 35x its estimated FY28 earnings, despite past concerns over leadership changes, competition, and macro uncertainties.
•JM Financial expects Blinkit's net order value to grow in low double digits sequentially for Q4FY26 and projects an improvement in its adjusted EBITDA margin to 0.4% of NOV.
•JM Financial maintains a 'Buy' rating on Eternal with an unchanged price target of ₹400, implying an 85% upside from current levels.
