Eternal Shares Rise Amid Market Rebound; JM Financial Sees Significant Upside Potential

Eternal, the parent company of food delivery platforms Zomato and Blinkit, saw its stock rise over 4% on Tuesday following a rebound in the Indian stock market and positive outlook from brokerage JM Financial. The firm highlighted potential upside of up to 80%, citing recovery prospects after recent declines caused by leadership changes, increased competition, and the LPG crisis impacting the food sector. JM Financial expects Blinkit's growth and improved margins despite competitive pressures, with confidence in a stronger performance once macroeconomic conditions stabilize.