Shares of Eternal Ltd. traded higher on Wednesday, rising 1.37% to ₹328.85 on the NSE after JPMorgan maintained an Overweight rating and raised its target price to ₹390. The move came on the back of strong alternative data channel checks that confirmed Blinkit’s expanding leadership in the quick commerce space.
JPMorgan noted that Blinkit is outperforming peers in multiple ways and is expected to sustain higher growth for longer, without significantly altering its break-even or absolute profit timelines. Analysts believe that the company will continue to prioritise market growth over profit maximisation for the next two years, reinforcing its leadership in the segment.
The brokerage has also increased Eternal’s GOV (Gross Order Value) estimates for FY26/27/28 by 6%, 22% and 35% respectively, while keeping EBITDA projections largely unchanged. This reflects confidence in Blinkit’s ability to scale up operations effectively without compromising its long-term profitability metrics.
At the time of writing, Eternal’s market capitalisation stood at ₹2.99 trillion, with the stock trading close to its 52-week high of ₹334.40.
