By Priya Raghuvanshi

Copyright timesnownews

Eternal Ltd, the parent company of food delivery platform Zomato and quick commerce player Blinkit, has made a remarkable leap in India’s corporate landscape. On Tuesday, Eternal’s market capitalisation soared to approximately Rs 3.16 trillion, outpacing major players such as ONGC, Adani Ports, and Tata Motors. Shares of Eternal ended the trading session at Rs 327.30, reflecting a 1.24 per cent gain for the day. The company’s stock performance has been on a steady upward trend, climbing more than 2.75 per cent over the past month and recording an impressive 31 per cent jump over three months. Who Did Eternal Just Overtake In Market Value? The rally has placed Eternal ahead of several well-known firms in terms of market capitalisation: Adani Ports: Rs 3.03 trillion ONGC: Rs 2.96 trillion Bharat Electronics: Rs 2.94 trillion Adani Enterprises: Rs 2.77 trillion Wipro: Rs 2.66 trillion Tata Motors: Rs 2.63 trillion Coal India: Rs 2.44 trillion Although still far behind giants like Reliance Industries (Rs 19.01 trillion), HDFC Bank (Rs 14.84 trillion), and Bharti Airtel (Rs 11.06 trillion), Eternal’s climb is being closely watched. Brokerages Turn Bullish On Eternal And Swiggy Earlier this month, Motilal Oswal Financial Services (MOFSL) raised Eternal’s price target to Rs 420, citing favourable consumption trends, rational market competition, and better policy tailwinds. It also revised rival Swiggy’s target to Rs 560, placing both in the ‘Buy’ zone. Nomura echoed this optimism, revising its target to Rs 370. The brokerage attributed its bullish stance to clearer growth visibility in food delivery, structural improvement in Blinkit’s quick commerce model, and evolving valuation methods. Eternal’s Secret Sauce: Steady Profits and Quick Commerce Transformation According to Nomura, Eternal’s food delivery operations have moved into a stable and profitable growth phase. With Swiggy and Zomato forming a “firm duopoly,” the industry has become more disciplined and profit-focused. Blinkit, Eternal’s quick commerce arm, is also transforming. Analysts believe this could lead to long-term margin improvements and possibly change the unit economics of quick commerce in India. Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world.