Shares of Eternal Ltd came under pressure on December 31, slipping nearly 3% intraday on the NSE amid concerns around potential disruption in platform-based services due to a nationwide strike call by gig and platform worker unions.
The stock ended the session around Rs 276.60, down over 2.2%, compared with the previous close of Rs 282.85, as investor sentiment turned cautious following developments in the gig economy space.
Nationwide gig workers’ strike weighs on sentiment
The decline in Eternal shares comes after gig and platform worker unions announced a strike on December 31, 2025, protesting what they described as “systemic exclusion from core labour entitlements.” The unions have sought the Centre’s intervention, alleging exploitation of workers employed by food delivery and taxi aggregation platforms.
In a letter addressed to Union Labour Minister Mansukh Mandaviya, the Gig and Platform Services Workers Union (GIPSWU) highlighted ongoing concerns related to labour rights, harassment, discrimination, and lack of social security benefits for gig workers. The union warned that continued neglect of these issues could have broader implications for India’s economic growth.
Why this matters for Eternal
Eternal operates in a sector that is closely linked to platform-based and gig-driven services, making it vulnerable to any large-scale disruption in delivery or logistics operations. Market participants reacted cautiously to the strike announcement, factoring in the risk of operational disruptions, higher compliance costs, or regulatory scrutiny in the medium term.
The stock also witnessed selling pressure throughout the session, with the intraday chart indicating sustained weakness rather than a sharp one-time drop, suggesting broader investor unease rather than purely technical selling.
Market view
While there has been no company-specific regulatory action announced against Eternal, the stock movement reflects sentiment-driven pressure tied to sector-wide concerns. Investors are expected to closely track further developments, especially any response from the government or changes in labour regulations affecting gig platforms.
For now, Eternal’s share price movement appears to be driven more by headline risk and uncertainty rather than changes in the company’s fundamentals.
