Eternal stock holds near peak as broker targets rise after Q2

Published on 11/10/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eternal stock remains near its 52-week high after a strong Q2 report. Jefferies lifted its target to INR 430, while Goldman Sachs raised its target to INR 385.

Growth and margin tests ahead

Eternal's Q2FY27 net profit rose 92.3% year over year to INR 125 crore.
Revenue increased 77.6% to INR 24,138 crore as Blinkit expansion remained central to the investment case.
Investors will watch store economics, food-delivery growth and the development of District.

Eternal, INE758T01015, Illustration mit AI erstellt.

Eternal's shares remained near their yearly peak after the company reported sharp growth in the September quarter and brokerages raised their targets. A November 10 analysis by Multibagg AI Research Desk said Eternal closed at INR 363.45 on the NSE on Monday, November 9, 2026, after trading as high as INR 365.70.

Q2 growth sharpens the debate

For the quarter ended September 30, Eternal reported net profit of INR 125 crore, up 92.3% from a year earlier. Revenue rose 77.6% year over year to INR 24,138 crore. The figures support the company's expansion narrative, but investors still need to assess how much of that growth converts into durable group profitability.

Blinkit remains the main execution focus. The source said the quick-commerce business added 308 stores during the reported period, taking its network to 2,751, while management expects to exceed 3,500 stores by March 2027. Faster rollout can increase reach and order volumes, but it also raises questions about store economics, inventory and working capital.

Brokerage optimism meets execution risk

Jefferies raised its target to INR 430 from INR 415 after the Q2 results and retained its Buy rating. The brokerage cited faster Blinkit expansion, improving unit economics, food-delivery growth above 20% and greater confidence in District. Goldman Sachs also retained Buy and raised its target by 11% to INR 385, linking its view to Blinkit's growth, potential margin expansion and steadier competition in quick commerce.

Goldman Sachs's forecast of USD 1 billion in EBITDA by FY29 is an analyst estimate, not company guidance. The gap between strong reported growth and the need for sustained margin improvement leaves execution, customer retention and capital discipline as the main issues for investors.