Eternal Limited — the India-listed company formerly known as Zomato Limited and the parent of Zomato and Blinkit — ended the week back in focus after a large block deal, fresh regulatory disclosures, and renewed debate around the sustainability of India’s quick-commerce “land-grab” phase. Business Standard
With markets closed on Sunday, December 14, 2025, the latest actionable datapoint for investors is Friday’s close (Dec 12) and the cluster of company updates released over the past 10 days.
Below is a complete, newsroom-style roundup of what moved Eternal (ETERNAL) this week, what analysts and technical watchers are saying now, and what to track in the week ahead.
Eternal Limited stock snapshot (as of Dec 14, 2025)
- Company / ticker: Eternal Limited (formerly Zomato Limited) — NSE: ETERNAL, BSE: 543320 (ISIN: INE758T01015). Business Standard
- Latest traded/close reference: The stock ended Friday, Dec 12 at ₹298.05, up about 2.44% on the day, with an intraday range of roughly ₹288.60–₹299.00. Moneycontrol
- 52-week context: Visible reference ranges put the 52-week band near ₹194.80–₹368.45, leaving the stock still well off its October peak even after Friday’s rebound. Moneycontrol
That “off the highs” positioning is important, because much of the week’s commentary has boiled down to a single question: is this pullback a normal digestion after an overheated run — or a sign the market is re-pricing the speed (and cost) of Blinkit-led growth? The Economic Times
What happened this week: all key Eternal (ETERNAL) news from the last days
1) GST demand order in Andhra Pradesh (Dec 4): company plans appeal
In an exchange disclosure dated December 4, 2025, Eternal said it received an adjudication order for the period April 2022 to March 2023 confirming:
- GST demand:₹8.29 crore
- Interest:₹4.64 crore
- Penalty:₹0.83 crore
Eternal stated it believes it has a strong case on merits and intends to appeal, adding it does not expect a financial impact. Zomato
Why it matters: On its own, the amount is not the kind of figure that usually rewrites an investment thesis for a mega-cap consumer internet name — but repeated tax and regulatory headlines can influence sentiment, risk premia, and “headline volatility,” especially when the stock is already technically weak.
2) The ₹1,535 crore block deal (Dec 8): 0.54% equity changes hands
The biggest market-moving event of the week was a large block deal in Eternal on Monday, December 8, where about 5.3 crore shares (roughly 0.54% of equity) traded around ₹290.4/share, implying a transaction size near ₹1,535 crore. Moneycontrol
Reports noted the deal was done at a modest discount to the prior close, and Eternal’s shares finished the day lower (multiple outlets pegged the close around the mid-₹280s). Moneycontrol
Why it matters:
Block deals can be interpreted in two opposing ways, depending on what the market thinks is happening behind the curtain:
- Benign interpretation: a liquidity event (portfolio churn, rebalancing) that increases free float and “clears supply” quickly.
- Less benign interpretation: an overhang signal — investors worry “who’s next to sell” if more secondaries follow.
This time, the market seemed to treat it as a short-term supply shock — and then moved on.
3) Subsidiary liquidations (filed Dec 9): cleanup of non-operating entities
On December 9, Eternal disclosed progress on winding down two overseas subsidiaries that it said do not have active business operations:
- Zomato Media (Private) Limited (Sri Lanka): expected to be struck off and dissolved after the statutory period following a Nov 21, 2025 gazette notification.
- Zomato Internet Hizmetleri Ticaret Anonim Sirketi (Turkey): liquidated effective Dec 9, 2025. Business Standard
The disclosure also quantified how immaterial these entities are relative to the group:
- ZMPL: Turnover nil, net worth ~₹0.05 crore (0.00% contribution). Business Standard
- ZIHTAS: Turnover nil, net worth ~₹2.97 crore (0.01% contribution). Business Standard
Why it matters:
This is best read as corporate housekeeping — reducing complexity and cost while keeping the group structure aligned with where real operations exist (India-centric execution, Blinkit expansion, and adjacent bets). Markets typically like simplification, but the financial impact here is not the point; it’s the signal.
4) ESG rating catalyst (filed Dec 10): Eternal assigned “77” (Leader category) for FY2025
In another exchange filing dated December 10, Eternal reported that NSE Sustainability Ratings & Analytics Limited assigned the company an ESG Rating of “77”, in the “Leader” category, for financial year 2025. Business Standard
The stock saw positive attention afterward, with coverage pointing to the ESG development as a sentiment tailwind during a volatile stretch. Business Standard
Why it matters:
For global funds (and increasingly domestic institutions), ESG flags can influence:
- eligibility screens,
- portfolio weights, and
- the “benefit of the doubt” a company gets during controversy cycles.
An ESG score does not prove the business model works — but it can shape the marginal buyer.
5) Blinkit CEO signals a coming “reset” in quick commerce (published Dec 10)
In a widely circulated interview recap, Blinkit CEO Albinder Dhindsa described quick commerce as heading toward a shakeout / consolidation, with a likely re-think of discounting and user experience as funding becomes less easy and operating costs bite. The Times of India
Why it matters for Eternal stock:
Eternal is, in market terms, increasingly a Blinkit-and-quick-commerce narrative. When the category’s leaders start talking about discount rationalization and a more sustainable unit-economics mindset, investors generally hear two things at once:
- “We can defend share without infinite cash burn.” (bullish)
- “Growth won’t be free anymore; someone pays.” (mixed)
How the market chooses between those readings can drive near-term multiples.
6) Shiprocket IPO update (Dec 13): Eternal-backed investee files updated DRHP
On December 13, reports said e-commerce enablement platform Shiprocket filed an updated DRHP for a proposed IPO sized around ₹2,342.3 crore (fresh issue plus OFS). Coverage also noted Eternal Limited holds ~6.85% and is not participating in the OFS. Business Today
Why it matters:
This is a “portfolio optionality” datapoint. A successful IPO process can:
- give the market a cleaner mark-to-market reference for Eternal’s stake,
- potentially create strategic partnership synergies, and
- support the broader “Eternal as a consumer internet compounder” story.
It is not usually a next-week earnings driver — but it can nudge medium-term narrative.
This week’s performance story: why the stock still feels fragile even after Friday’s bounce
Even with the end-of-week recovery, Eternal has been described as down ~21% from its October record high (~₹368.45), with commentary highlighting prolonged selling pressure after Q2 results. The Economic Times
The key nuance: a stock can be fundamentally exciting and still be technically heavy if positioning was crowded and expectations were priced too aggressively.
That mix — long-term optimism + near-term technical damage — is exactly how many sell-side notes and trading desks are framing Eternal right now. The Economic Times
Analyst forecasts and consensus: what the Street expects now
Sell-side tone: still broadly constructive, but not uniform
Recent market coverage has summarized a largely bullish long-term stance from major brokerages, even as they debate the timing of profitability inflection in quick commerce and the near-term pace of food delivery growth. The Economic Times
Highlights cited in coverage include:
- Bullish targets reaching as high as ₹480 from some houses (often justified by growth and segment valuation frameworks). The Economic Times
- Other targets in the ₹390–₹450 zone attached to “Buy/Outperform” style ratings, with different assumptions on Blinkit margins and marketing intensity. The Economic Times
Consensus snapshot: average target clustered in the high-₹300s
A broad analyst-consensus page tracking 31 analysts listed:
- Average 12‑month target: ~₹382.97
- High estimate:₹483
- Low estimate:₹200
- Consensus rating: tilted to Buy (with a minority of Sell calls). Investing
How to read this:
- The high target implies the market re-embraces the “winner-takes-most quick commerce + improving unit economics” narrative.
- The low target represents a world where competition, burn, or growth deceleration forces a hard de-rating.
- The wide spread itself is information: the future path is being modeled with significant uncertainty, which often shows up as volatility around news and results.
Technical outlook: levels traders are watching into the week ahead
Technical commentary in market coverage has centered on a few well-defined zones:
- A major support band near the 200‑day moving average / EMA, frequently referenced around the high‑₹270s to low‑₹280s area. The Economic Times
- Downside risk levels discussed if that support breaks, with some commentary pointing toward the mid‑₹260s / ₹265–₹270 zone. The Economic Times
- On the upside, stabilization signals were framed around reclaiming the ₹305 area, with stronger bullish confirmation often linked to a move above ₹320. The Economic Times
Separately, automated technical commentary also noted Friday’s gain and the day’s trading range (useful as a secondary reference, but best treated as “machine read,” not gospel). StockInvest
Plain-English takeaway:
Eternal’s chart is trying to build a floor, but it’s not “proven” yet. Next week’s action around the high‑₹270s/low‑₹280s support and the ₹305–₹320 resistance band is likely to set tone.
Week-ahead outlook: what could move Eternal (ETERNAL) next week
Here are the most realistic, near-term catalysts and watchpoints for the Dec 15–Dec 19 trading week.
1) Post-block-deal behavior: will supply stay quiet?
The market often “tests” a stock after a large block deal:
- If the stock holds up on down days and rebounds on up days, traders infer the supply has been absorbed.
- If rallies keep getting sold, the market starts whispering about follow-on secondaries.
This is less about one specific seller and more about pattern recognition.
2) Quick commerce narrative: discounting, consolidation, and unit economics
Dhindsa’s messaging around a coming reset in discounting and sector consolidation puts a spotlight on what investors care about most:
- customer acquisition costs,
- delivery density,
- dark-store productivity,
- and whether growth can continue without “forever funding.” The Times of India
Any follow-up reporting, competitor moves, or channel checks tied to Blinkit/quick commerce could disproportionately influence Eternal’s week.
3) Corporate disclosure drumbeat: ESG, regulatory items, and structure cleanup
This week showed that Eternal’s short-term tape can react to:
- filings (ESG rating),
- structural simplification (subsidiary wind-down),
- and regulatory matters (GST). Business Standard
Even when the financial impact is small, the stock can move on attention and positioning.
4) “Optionality” watch: Shiprocket IPO progress headlines
Shiprocket’s updated DRHP is not an earnings event for Eternal, but it adds a live storyline investors may keep revisiting if there are updates on:
- timelines,
- valuation expectations,
- anchor interest, or
- peer IPO sentiment. Business Today
5) Key technical levels: the market may trade the chart before it trades the story
With clearly discussed support/resistance zones, some portion of next week’s flow may be mechanical:
- breaks trigger stops,
- reclaims trigger momentum entries,
- and sideways action triggers boredom (and rotation).
That matters because Eternal is liquid enough for short-term flows to leave fingerprints.
Bottom line: Eternal’s setup into next week
Eternal enters the new week with fresh institutional activity digested, corporate housekeeping updates out, and a positive ESG headline in the mix — but with the stock still wrestling with the broader question of how to price a fast-growing quick-commerce leader that is investing heavily into expansion. Moneycontrol
The cleanest way to frame next week is in scenarios:
- Constructive scenario: support holds near the widely watched long-term average zone, and the stock starts reclaiming resistance levels as narrative shifts from “sell the rally” to “buy the base.” The Economic Times
- Risk scenario: support fails, and the market interprets recent block activity as the start (not the end) of supply, pushing the stock toward lower technical targets. The Economic Times
Either way, Eternal is likely to remain a high-attention name because it sits at the center of two of India’s most contested consumer battlegrounds: food delivery and quick commerce. Reuters
