Eternal Shares Surge 7% After Q3 Results; CLSA Raises Target Price
Business
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Moneycontrol•22-01-2026, 16:25
Eternal Shares Surge 7% After Q3 Results; CLSA Raises Target Price
- •CLSA maintained its "high-conviction outperform" rating on Eternal Limited, increasing its target price from 483 rupees to 506 rupees per share.
- •Eternal's consolidated net profit for Q3 FY2025 surged 72.88% year-on-year to 102 crore rupees, with revenue reaching 16,315 crore rupees.
- •Founder Deepinder Goyal stepped down as CEO and MD, with Blinkit CEO Albinder Dhindsa taking over as Eternal CEO from February 1.
- •Jefferies, HSBC, and Nomura also issued "Buy" ratings, with Jefferies highlighting Blinkit's positive EBITDA amidst high competition.
- •Eternal shares rallied up to 7% on January 22, settling 2.6% higher at 276 rupees, with a market cap exceeding 2.66 lakh crore rupees.
Why It Matters: Eternal Limited saw strong Q3 results and a leadership change, leading to brokerage upgrades and a significant share price rally.
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