Shreenath Paper

< -5%

Saffron Ind

S V J Enterpris

-5% to -3%

Shree Kr Paper

Aten Papers

Subam Papers

-3% to 0%

TAHMARENT

Abril Paper Tec

0% to 3%

Nikita Greentec

3% to 5%

Nifty Bank index rose 0.60 percent, snapping a three-session losing streak, IDFC First Bank led gains, nearing its 52-week high at Rs 87 apiece, Nifty PSU Bank index outperformed, jumping over 2 percent

* Nifty Bank index rose 0.60 percent, snapping a three-session losing streak
* IDFC First Bank led gains, nearing its 52-week high at Rs 87 apiece
* Nifty PSU Bank index outperformed, jumping over 2 percent

Nifty Bank index rose 0.6% on January 22, ending a three-day losing streak. IDFC First Bank led gains, nearing its 52-week high. PSU banks outperformed, while IndusInd, Yes Bank, and ICICI Bank declined. Key support and resistance levels remain in focus.

shorts/business/bank-nifty-snaps-3-day-losing-streak-as-idfc-first-bank-sbi-shares-jump-up-to-3-check-key-levels

* Nifty Bank index rose 0.60 percent, snapping a three-session losing streak
* IDFC First Bank led gains, nearing its 52-week high at Rs 87 apiece
* Nifty PSU Bank index outperformed, jumping over 2 percent

The Nifty Bank index rose in trade on January 22, snapping a three-session losing streak. This comes as overall stock markets remained in the green territory.

The <a href="https://www.moneycontrol.com/indian-indices/NIFTY-BANK-23.html">Nifty Bank</a> index was up 0.60 percent to 59,155.45, as seen at 2.52 pm. IDFC First Bank shares were the top gainers on the index, jumping nearly 3 percent to trade at Rs 83.81 apiece. The stock is currently nearing its 52-week high level of Rs 87 apiece.

Canara Bank, Bank of Baroda and State Bank of India (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/statebankindia/SBI">SBI</a>) shares gained nearly 2 percent each, while Federal Bank and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/unionbankindia/UBI01">Union Bank of India</a> shares rose over 1 percent each. Kotak Mahindra Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/axisbank/AB16">Axis Bank</a> and Punjab National Bank (PNB) shares gained nearly 1 percent each.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/hdfcbank/HDF01">HDFC Bank</a> and AU Small Finance Bank shares were trading in the green with marginal gains. Bucking the trend, IndusInd Bank shares declined more than 1 percent, while Yes Bank and ICICI Bank shares were trading in the red with marginal losses.

The <a href="https://www.moneycontrol.com/indian-indices/nifty-psu-bank-43.html">Nifty PSU Bank</a> index is currently outperforming the broader Nifty Bank index, jumping more than 2 percent led by gained in the shares of Bank of India, Indian Bank and others, who gained up to 5 percent.
<h3><strong>Bank Nifty technical view:</strong></h3>
Bajaj Broking had said that the 58,700–59,000 zone remains a key short-term support. A decisive break below 58,278 could accelerate the downside, it further said. The domestic brokerage added that on the upside, immediate resistance is at 59,500, while the 60,200–60,400 all-time high zone remains a major hurdle.

According to Rajesh Bhosale, Equity Technical Analyst at Angel One, Bank Nifty can find support at 58,500 and then at 58,300 on the downside. On the upside, the analyst feels that the index can find resistance at 59,100 and then at 59,500.

“The Bank Nifty continues to show relative resilience but remains below key resistance levels…Immediate support lies near 58,500–58,600, while any upside is likely to be capped unless there is improvement in earnings visibility and broader market confidence,” said Aakash Shah, Technical Research Analyst at Choice Equity Broking.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-opening-us-asian-markets-gain-2-liveblog-13784544.html">LIVE updates</a> from the stock markets here.

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Bank Nifty snaps 3-day losing streak as IDFC First Bank, SBI shares jump up to 3%: Check key levels

The Nifty Bank index rose in trade on January 22, snapping a three-session losing streak. This comes as overall stock markets remained in the green territory.

The Nifty Bank index was up 0.60 percent to 59,155.45, as seen at 2.52 pm. IDFC First Bank shares were the top gainers on the index, jumping nearly 3 percent to trade at Rs 83.81 apiece. The stock is currently nearing its 52-week high level of Rs 87 apiece.

Canara Bank, Bank of Baroda and State Bank of India (SBI) shares gained nearly 2 percent each, while Federal Bank and Union Bank of India shares rose over 1 percent each. Kotak Mahindra Bank, Axis Bank and Punjab National Bank (PNB) shares gained nearly 1 percent each.

HDFC Bank and AU Small Finance Bank shares were trading in the green with marginal gains. Bucking the trend, IndusInd Bank shares declined more than 1 percent, while Yes Bank and ICICI Bank shares were trading in the red with marginal losses.

The Nifty PSU Bank index is currently outperforming the broader Nifty Bank index, jumping more than 2 percent led by gained in the shares of Bank of India, Indian Bank and others, who gained up to 5 percent.
Bank Nifty technical view:
Bajaj Broking had said that the 58,700–59,000 zone remains a key short-term support. A decisive break below 58,278 could accelerate the downside, it further said. The domestic brokerage added that on the upside, immediate resistance is at 59,500, while the 60,200–60,400 all-time high zone remains a major hurdle.

According to Rajesh Bhosale, Equity Technical Analyst at Angel One, Bank Nifty can find support at 58,500 and then at 58,300 on the downside. On the upside, the analyst feels that the index can find resistance at 59,100 and then at 59,500.

“The Bank Nifty continues to show relative resilience but remains below key resistance levels…Immediate support lies near 58,500–58,600, while any upside is likely to be capped unless there is improvement in earnings visibility and broader market confidence,” said Aakash Shah, Technical Research Analyst at Choice Equity Broking.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Canara HSBC Life, Radico Khaitan shares rose up to 9 percent in Thursday's trading session on strong December quarter earnings.

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<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Q3 results impact: Canara HSBC Life, Radico Khaitan shares rise up to 9% on strong December quarter earnings

Canara HSBC Life, Radico Khaitan shares rose up to 9 percent in Thursday's trading session on strong December quarter earnings.

(Copy will be updated shortly)

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Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Tata Motors and Ashok Leyland shares surged after positive brokerage notes, Nomura raised target prices, citing strong CV demand and sector upcycle, Ashok Leyland and Tata Motors CV both received 'Buy' calls from Nomura

* Tata Motors and Ashok Leyland shares surged after positive brokerage notes
* Nomura raised target prices, citing strong CV demand and sector upcycle
* Ashok Leyland and Tata Motors CV both received 'Buy' calls from Nomura

Tata Motors and Ashok Leyland shares surged after positive brokerage notes. Nomura raised target prices, citing strong demand and industry upcycle, with both companies expected to benefit from improving market conditions and increased goods demand.

shorts/business/tata-motors-ashok-leyland-shares-rise-up-to-5-on-positive-brokerage-notes-for-cv-players-should-you-buy-sell-or-hold

* Tata Motors and Ashok Leyland shares surged after positive brokerage notes
* Nomura raised target prices, citing strong CV demand and sector upcycle
* Ashok Leyland and Tata Motors CV both received 'Buy' calls from Nomura

The shares of Tata Motors, which now represent its commercial vehicle business, and Ashok Leyland jumped in trade on January 22 as positive brokerage notes boosted investment sentiment for the automakers.

<a href="https://www.moneycontrol.com/india/stockpricequote/automobile-truckslcvs/tatamotors/TML02">Tata Motors</a> shares rose more than 4 percent to Rs 453.8 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/auto-lcvshcvs/ashokleyland/AL">Ashok Leyland</a> shares meanwhile jumped over 5 percent to Rs 190.48 apiece, marking the biggest single-day rise in eight weeks.

Nomura said that the CV upcycle is gathering pace, adding that dealers suggested that sectors such as cement, steel, e-commerce and autos are driving demand.
<h3><strong>Nomura on Ashok Leyland:</strong></h3>
The international brokerage kept a ‘Buy’ call on Ashok Leyland, and raised its target price to Rs 216 per share. This implies an upside potential of more than 19 percent from the stock’s previous closing price of Rs 181.24 apiece.

Nomura believes that Ashok Leyland is a pure-play beneficiary of ongoing upcycle in domestic M&amp;HCV industry. This is supported by improving freight rates and better fleet operator profitability, along with lower GST rates and an ageing truck fleet.
<h3><strong>Nomura on Tata Motors CV:</strong></h3>
It kept a ‘Buy’ call on Tata Motors CV, and raised its target price to Rs 552 per share. This implies an upside potential of nearly 27 percent from the stock’s previous closing price of Rs 434.85 apiece.

Nomura said that Tata Motors CV continues to benefit from its dominant position in domestic CV market. It expects the firm to post a healthy 10%/10%/5% YoY volume growth in FY26-28F, with EBITDA margins expanding to 12-13% over FY26-28F.

Citi said that while direct impact of price cuts post GST reductions would be relatively lower for commercial vehicles compared to passenger vehicles or two-wheelers, overall increase in goods demand could be a positive driver.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-opening-us-asian-markets-gain-2-liveblog-13784544.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Tata Motors, Ashok Leyland shares rise up to 5% on positive brokerage notes for CV players: Should you buy, sell or hold?

The shares of Tata Motors, which now represent its commercial vehicle business, and Ashok Leyland jumped in trade on January 22 as positive brokerage notes boosted investment sentiment for the automakers.

Tata Motors shares rose more than 4 percent to Rs 453.8 apiece. Ashok Leyland shares meanwhile jumped over 5 percent to Rs 190.48 apiece, marking the biggest single-day rise in eight weeks.

Nomura said that the CV upcycle is gathering pace, adding that dealers suggested that sectors such as cement, steel, e-commerce and autos are driving demand.
Nomura on Ashok Leyland:
The international brokerage kept a ‘Buy’ call on Ashok Leyland, and raised its target price to Rs 216 per share. This implies an upside potential of more than 19 percent from the stock’s previous closing price of Rs 181.24 apiece.

Nomura believes that Ashok Leyland is a pure-play beneficiary of ongoing upcycle in domestic M&amp;amp;HCV industry. This is supported by improving freight rates and better fleet operator profitability, along with lower GST rates and an ageing truck fleet.
Nomura on Tata Motors CV:
It kept a ‘Buy’ call on Tata Motors CV, and raised its target price to Rs 552 per share. This implies an upside potential of nearly 27 percent from the stock’s previous closing price of Rs 434.85 apiece.

Nomura said that Tata Motors CV continues to benefit from its dominant position in domestic CV market. It expects the firm to post a healthy 10%/10%/5% YoY volume growth in FY26-28F, with EBITDA margins expanding to 12-13% over FY26-28F.

Citi said that while direct impact of price cuts post GST reductions would be relatively lower for commercial vehicles compared to passenger vehicles or two-wheelers, overall increase in goods demand could be a positive driver.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Bajaj Consumer Care shares hit 20 percent upper circuit after strong Q3 earnings., Oracle Financial Services shares up 3% on profit and revenue growth., KEI Industries shares fall over 1 percent after UBS flags near-term weakness.

* Bajaj Consumer Care shares hit 20 percent upper circuit after strong Q3 earnings.
* Oracle Financial Services shares up 3% on profit and revenue growth.
* KEI Industries shares fall over 1 percent after UBS flags near-term weakness.

Bajaj Consumer Care shares surged 20% after Q3 net profit jumped 83% and revenue rose 31%. Oracle Financial Services gained 3% on profit growth, while KEI Industries fell over 1% after a revenue miss flagged by UBS despite overall growth.

shorts/business/q3-results-impact-bajaj-consumer-shares-hit-20-upper-circuit-on-strong-earnings-ofss-rises-3-kei-industries-declines

* Bajaj Consumer Care shares hit 20 percent upper circuit after strong Q3 earnings.
* Oracle Financial Services shares up 3% on profit and revenue growth.
* KEI Industries shares fall over 1 percent after UBS flags near-term weakness.

<a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/bajajconsumercare/BC02">Bajaj Consumer Care</a> shares hit the 20 percent upper circuit limit on Thursday after the FMCG company reported a sharp rise in earnings for the December quarter.

The stock surged after the company posted an 83 percent jump in consolidated net profit to Rs 46.37 crore for the December quarter of FY26, compared with Rs 25.31 crore in the year-ago period, according to a regulatory filing. Bajaj Consumer Care is part of the Bajaj Group.

Revenue from operations rose 30.57 percent year-on-year to Rs 306.09 crore during the quarter, while total expenses increased 20.9 percent to Rs 254.95 crore.

Following the results, brokerage firm Centrum raised its price target on the stock to Rs 340 from Rs 310, stating that the company’s third-quarter performance was a strong beat across parameters. The brokerage said the company has seen improvement in revenue and margin trajectory over the past few quarters and expects this trend to continue.

Meanwhile, shares of <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/oraclefinancialservicessoftware/OFS01">Oracle Financial Services Software Ltd</a> (OFSS) were trading nearly 3 percent higher at Rs 7,891 apiece.

The company reported a 15 percent year-on-year rise in consolidated revenue for the December quarter, while net profit grew 13 percent to about Rs 610 crore. Net profit margin for the quarter stood at 31 percent despite the impact of new labour code-related accruals, the company’s chief financial officer said.

Dolat Capital said it expects consolidation in OFSS’s topline momentum in the fourth quarter. The brokerage upgraded the stock to “Buy” while lowering its price target to Rs 9,800 from Rs 10,280.

Meanwhile, shares of KEI Industries Ltd declined more than 1 percent to Rs 3,889.70. The stock had fallen as much as 5.3 percent earlier in the session to a five-month low of Rs 3,728.70.

The decline came after UBS flagged near-term weakness following a revenue miss in the December quarter. KEI Industries reported a 19.5 percent rise in consolidated revenue, which fell short of analysts’ estimates. UBS said the topline miss, in a quarter supported by strong commodity inflation, could lead to near-term pressure on the stock, outweighing the EBITDA beat. However, the brokerage said the company remains structurally well positioned to deliver steady growth.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

Q3 results impact: Bajaj Consumer shares hit 20% upper circuit on strong earnings, OFSS rises 3%; KEI Industries declines

Bajaj Consumer Care shares hit the 20 percent upper circuit limit on Thursday after the FMCG company reported a sharp rise in earnings for the December quarter.

The stock surged after the company posted an 83 percent jump in consolidated net profit to Rs 46.37 crore for the December quarter of FY26, compared with Rs 25.31 crore in the year-ago period, according to a regulatory filing. Bajaj Consumer Care is part of the Bajaj Group.

Revenue from operations rose 30.57 percent year-on-year to Rs 306.09 crore during the quarter, while total expenses increased 20.9 percent to Rs 254.95 crore.

Following the results, brokerage firm Centrum raised its price target on the stock to Rs 340 from Rs 310, stating that the company’s third-quarter performance was a strong beat across parameters. The brokerage said the company has seen improvement in revenue and margin trajectory over the past few quarters and expects this trend to continue.

Meanwhile, shares of Oracle Financial Services Software Ltd (OFSS) were trading nearly 3 percent higher at Rs 7,891 apiece.

The company reported a 15 percent year-on-year rise in consolidated revenue for the December quarter, while net profit grew 13 percent to about Rs 610 crore. Net profit margin for the quarter stood at 31 percent despite the impact of new labour code-related accruals, the company’s chief financial officer said.

Dolat Capital said it expects consolidation in OFSS’s topline momentum in the fourth quarter. The brokerage upgraded the stock to “Buy” while lowering its price target to Rs 9,800 from Rs 10,280.

Meanwhile, shares of KEI Industries Ltd declined more than 1 percent to Rs 3,889.70. The stock had fallen as much as 5.3 percent earlier in the session to a five-month low of Rs 3,728.70.

The decline came after UBS flagged near-term weakness following a revenue miss in the December quarter. KEI Industries reported a 19.5 percent rise in consolidated revenue, which fell short of analysts’ estimates. UBS said the topline miss, in a quarter supported by strong commodity inflation, could lead to near-term pressure on the stock, outweighing the EBITDA beat. However, the brokerage said the company remains structurally well positioned to deliver steady growth.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Eternal shares dropped 9% from day's high after Q3 results and CEO resigned., Q3 net profit up 73% YoY to Rs 102 crore; revenue surged 202% to Rs 16,315 crore, Brokerages lower target price but keep 'Buy' rating, citing growth potential.

* Eternal shares dropped 9% from day's high after Q3 results and CEO resigned.
* Q3 net profit up 73% YoY to Rs 102 crore; revenue surged 202% to Rs 16,315 crore
* Brokerages lower target price but keep 'Buy' rating, citing growth potential.

Eternal shares fell over 9% after Q3 results showed a 73% profit rise and 202% revenue jump. Founder Deepinder Goyal resigned as CEO. Brokerages cited rising competition and margin pressure but mostly retained 'Buy' ratings with target prices up to Rs 415.

shorts/business/eternal-shares-tumble-9-from-day-s-high-with-management-transition-in-focus-brokerages-concerns-over-competition

* Eternal shares dropped 9% from day's high after Q3 results and CEO resigned.
* Q3 net profit up 73% YoY to Rs 102 crore; revenue surged 202% to Rs 16,315 crore
* Brokerages lower target price but keep 'Buy' rating, citing growth potential.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/online-services/eternal/Z">Eternal</a> erased all morning gains and sharply fell more than 9 percent from its day’s high on January 22. This came as brokerages analysed the Zomato and Blinkit-parent’s Q3 results, and what lies ahead.

The shares of the company dropped to Rs 276.05 apiece in the afternoon. Earlier during the day, the stock had jumped around 8 percent to hit an intraday high of Rs 305 apiece. This was the highest level seen by the stock since December 1 last year.
<h3><strong>Eternal Q3 Results:</strong></h3>
Food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit, on January 22 reported a <a href="https://www.moneycontrol.com/news/business/earnings/eternal-posts-rs-102-crore-net-profit-in-december-quarter-revenue-at-rs-16-315-crore-13783579.html">consolidated net profit of Rs 102 crore</a> for the October-December quarter of the ongoing financial year 2026. This marked a 73 percent year-on-year (YoY) rise from Rs 59 crore net profit reported in the same quarter of the previous financial year.

The firm's revenue from operations meanwhile jumped 202 percent to Rs 16,315 crore in Q3 FY26, from Rs 5,405 crore in Q3 FY25. Total expenses for the Gurugram-based firm increased 198 percent to Rs 16,493 crore in the quarter ended December.

Along with the Q3 results, the company announced that founder and Group CEO Deepinder Goyal has resigned from his role, and Blinkit’s CEO Albinder Dhindsa will take over.
<h3><strong>Motilal Oswal sees Eternal in a 'Dogfight':</strong></h3>
Motilal Oswal noted that Eternal's revenue growth beat its estimate. Zomato’s NOV of Rs 9,840 crore and Blinkit’s adjusted EBITDA margin at breakeven was also above its estimates.

However, the brokerage said that the EBITDA respite in Blinkit will likely be short-lived as competitive intensity in quick commerce (QC) re-accelerates. “Potential elevated discounting/investments in both QC and the going-out business are anticipated to constrain profitability in the short term,” it said.

Contrary to its earlier expectations, Motilal sees the risk of Eternal being drawn into a “dogfight”, with lower minimum order values and higher discounts. As a result, it reduced its adjusted EBITDA assumptions by around 15 percent for FY27/28E, and accordingly lowered its target price for the stock to Rs 360 (from Rs 420 earlier), while maintaining its ‘Buy’ call. The latest target price implies an upside potential of nearly 27 percent from the stock’s previous closing price of Rs 283.50 apiece.
<h3><strong>Emkay Global sees more competition ahead:</strong></h3>
Emkay Global said that Eternal’s Q3 FY25 surprised positively on the profitability front. “The management said that it will respond to competition and is willing to sacrifice margins. We believe that during a land-grab phase, companies should prioritize market share over margins to build scale that can be monetized over time. Eternal’s results underscore that QCom can be highly profitable at scale and Blinkit’s execution remains strong. We expect competitive intensity to increase in the QCom business and Eternal to focus more on market share, which will lead to slower margin expansion in FY27 and FY28,” it said.

The domestic brokerage cut its target price for the stock to Rs 370 per share, implying an upside potential of more than 30.5 percent from the stock’s previous closing price. The firm has a ‘Buy’ rating on the call.
<h3><strong>Elara Capital says Deepinder Goyal's move augurs well:</strong></h3>
Elara Capital said that the firm’s Q3 headline growth was a tad ahead of estimates on better growth in food delivery and quick commerce. “Deepinder Goyal’s move to the role of Vice Chairman augurs well. He retains strategic oversight and execution is uninterrupted,” the domestic brokerage noted.

It retained its ‘Buy’ call on the stock, with a target price of Rs 415 apiece, implying an upside potential of more than 46 percent.
<h3><strong>JM Financial on Eternal:</strong></h3>
JM Financial said that the management transition from Goyal to Dhindsa is expected to be smooth, as it elevates a leader with a demonstrated history of scaling a business that now represents the cornerstone of Eternal’s future growth. “Eternal’s primary growth engine, Blinkit, achieved a significant financial milestone in 3QFY26 as it turned Adj. EBITDA breakeven - surpassing our expectations by at least two quarters. This achievement coincided with a pivotal top-leadership restructuring, effective 1st Feb’26,” the domestic brokerage said.

It maintains its conviction that margin expansion will continue, notwithstanding aggressive store expansion plans and ongoing competitive intensity. “We reiterate Eternal as our preferred pick with an unchanged Dec’26 TP of INR 400,” it added.
<h3><strong>Axis Securities on Eternal:</strong></h3>
From a long-term perspective, Zomato has built a resilient business model by securing multiple strategic verticals and delivering broad-based growth, said Axis Securities. It however added that near-term challenges, such as rising competitive intensity and rapid store expansion, are likely to keep profitability under pressure. “Consequently, we recommend BUY and value the stock at Rs 360/share based on an SOTP valuation, implying a 27% return from the CMP,” it said.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-opening-us-asian-markets-gain-2-liveblog-13784544.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Eternal shares tumble 9% from day's high with management transition in focus, brokerages' concerns over competition

The shares of Eternal erased all morning gains and sharply fell more than 9 percent from its day’s high on January 22. This came as brokerages analysed the Zomato and Blinkit-parent’s Q3 results, and what lies ahead.

The shares of the company dropped to Rs 276.05 apiece in the afternoon. Earlier during the day, the stock had jumped around 8 percent to hit an intraday high of Rs 305 apiece. This was the highest level seen by the stock since December 1 last year.
Eternal Q3 Results:
Food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit, on January 22 reported a consolidated net profit of Rs 102 crore for the October-December quarter of the ongoing financial year 2026. This marked a 73 percent year-on-year (YoY) rise from Rs 59 crore net profit reported in the same quarter of the previous financial year.

The firm's revenue from operations meanwhile jumped 202 percent to Rs 16,315 crore in Q3 FY26, from Rs 5,405 crore in Q3 FY25. Total expenses for the Gurugram-based firm increased 198 percent to Rs 16,493 crore in the quarter ended December.

Along with the Q3 results, the company announced that founder and Group CEO Deepinder Goyal has resigned from his role, and Blinkit’s CEO Albinder Dhindsa will take over.
Motilal Oswal sees Eternal in a 'Dogfight':
Motilal Oswal noted that Eternal's revenue growth beat its estimate. Zomato’s NOV of Rs 9,840 crore and Blinkit’s adjusted EBITDA margin at breakeven was also above its estimates.

However, the brokerage said that the EBITDA respite in Blinkit will likely be short-lived as competitive intensity in quick commerce (QC) re-accelerates. “Potential elevated discounting/investments in both QC and the going-out business are anticipated to constrain profitability in the short term,” it said.

Contrary to its earlier expectations, Motilal sees the risk of Eternal being drawn into a “dogfight”, with lower minimum order values and higher discounts. As a result, it reduced its adjusted EBITDA assumptions by around 15 percent for FY27/28E, and accordingly lowered its target price for the stock to Rs 360 (from Rs 420 earlier), while maintaining its ‘Buy’ call. The latest target price implies an upside potential of nearly 27 percent from the stock’s previous closing price of Rs 283.50 apiece.
Emkay Global sees more competition ahead:
Emkay Global said that Eternal’s Q3 FY25 surprised positively on the profitability front. “The management said that it will respond to competition and is willing to sacrifice margins. We believe that during a land-grab phase, companies should prioritize market share over margins to build scale that can be monetized over time. Eternal’s results underscore that QCom can be highly profitable at scale and Blinkit’s execution remains strong. We expect competitive intensity to increase in the QCom business and Eternal to focus more on market share, which will lead to slower margin expansion in FY27 and FY28,” it said.

The domestic brokerage cut its target price for the stock to Rs 370 per share, implying an upside potential of more than 30.5 percent from the stock’s previous closing price. The firm has a ‘Buy’ rating on the call.
Elara Capital says Deepinder Goyal's move augurs well:
Elara Capital said that the firm’s Q3 headline growth was a tad ahead of estimates on better growth in food delivery and quick commerce. “Deepinder Goyal’s move to the role of Vice Chairman augurs well. He retains strategic oversight and execution is uninterrupted,” the domestic brokerage noted.

It retained its ‘Buy’ call on the stock, with a target price of Rs 415 apiece, implying an upside potential of more than 46 percent.
JM Financial on Eternal:
JM Financial said that the management transition from Goyal to Dhindsa is expected to be smooth, as it elevates a leader with a demonstrated history of scaling a business that now represents the cornerstone of Eternal’s future growth. “Eternal’s primary growth engine, Blinkit, achieved a significant financial milestone in 3QFY26 as it turned Adj. EBITDA breakeven - surpassing our expectations by at least two quarters. This achievement coincided with a pivotal top-leadership restructuring, effective 1st Feb’26,” the domestic brokerage said.

It maintains its conviction that margin expansion will continue, notwithstanding aggressive store expansion plans and ongoing competitive intensity. “We reiterate Eternal as our preferred pick with an unchanged Dec’26 TP of INR 400,” it added.
Axis Securities on Eternal:
From a long-term perspective, Zomato has built a resilient business model by securing multiple strategic verticals and delivering broad-based growth, said Axis Securities. It however added that near-term challenges, such as rising competitive intensity and rapid store expansion, are likely to keep profitability under pressure. “Consequently, we recommend BUY and value the stock at Rs 360/share based on an SOTP valuation, implying a 27% return from the CMP,” it said.

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