Eternal stock faces split analyst view after Blinkit turns profitable

Eternal stock has come under pressure after its latest results, even as Blinkit reached positive EBITDA and brokerages raised several targets, The Economic Times reported on November 5, 2026.

Profitability improves as competition rises

The report said Eternal shares had fallen about 9 percent over two sessions, erasing nearly USD 2 billion in market value. The move came despite Blinkit delivering positive EBITDA while competitive pressure in quick commerce remained high.

Jefferies set a target of INR 480 and argued that food-delivery unit economics should improve with scale. Morgan Stanley lifted its target to INR 420, while Kotak Equities raised its fair value to INR 410 and cited Blinkit's earlier-than-expected path to adjusted EBITDA breakeven. BofA increased its target to INR 405.

Emkay took the more cautious view, cutting its target to INR 370 from INR 430. The brokerage expects stronger competition to keep Eternal focused on market share, potentially slowing margin expansion. The resulting target range highlights the central investor question: whether Blinkit's improving economics can offset the cost of continued expansion.

Leadership adds to the debate

The Economic Times also highlighted Deepinder Goyal's move from chief executive officer, with Albinder taking over the role. Both executives are expected to retain their existing responsibilities in the short term, according to the report.

Eternal operates across food delivery, quick commerce, going-out and B2B supplies, according to its investor-relations overview. For investors, the next focus is whether store expansion and higher order values can translate into durable group-level margins without sacrificing growth.