Why ETERNAL Share Price Surged 2.44% Today?

ETERNAL (formerly Zomato Limited) is making significant moves on Dalal Street today, with the stock surging 2.44% to trade at ₹298.05 as of market close. The Quick Commerce and Food Delivery giant continues to attract institutional attention following its rebranding and sustained profitability metrics.

⚡ The Trigger: What is Driving the Move?

The upward movement in ETERNAL today appears to be driven by a confluence of technical breakouts and institutional confidence, rather than a single breaking news event on the wire today.

1. Technical Crossover: Market data indicates a 14-day moving average crossover occurred in the previous session, a classic technical buy signal that often triggers follow-up buying. Algorithmic traders and technical desks likely added positions today, capitalizing on this momentum.
2. Institutional Validation (CLSA Pick): Sentiment remains buoyant after CLSA recently listed ETERNAL as a “High Conviction Outperform” and a top consumer pick earlier this week (Dec 9). The lingering effect of this upgrade continues to support the stock.
3. Block Deal Absorption: The stock has successfully absorbed a significant block trade executed earlier this week (approx. 52 million shares at ₹290.95). The ability to hold above this ₹290 demand zone has solidified investor confidence, acting as a launchpad for today’s move.

With no negative regulatory filings or adverse management commentary, the move signals a “Risk-On” approach from investors targeting the Quick Commerce sector.

📉 Technical Setup & Key Levels

ETERNAL is currently trading in a Mild Bullish channel. The stock has reclaimed the critical ₹290 level, which previously acted as resistance and now serves as a strong support floor.

• Trend: Short-term Uptrend (Higher Highs, Higher Lows on hourly charts).
• RSI (14): Currently at 46.75, indicating the stock is in a neutral-to-bullish zone with ample room to run before hitting overbought territory.
• Volume: Volume pressure is Low, suggesting the move is steady accumulation rather than a frantic speculative spike.

Level	Price (₹)	Significance
Immediate Resistance	₹300.00	Psychological barrier; a close above this opens the path to ₹310.
Immediate Support	₹290.95	Recent Block Deal price; critical floor for short-term bulls.
Key Resistance	₹310.00	Analyst target zone (ICICI Securities); major profit-booking level.
Key Support	₹280.00	Strong structural support and JM Financial target base.

🆚 Peer Comparison

To understand the relative strength, we compare ETERNAL with its direct competitor in the Quick Commerce space, SWIGGY.

• ETERNAL (₹298.05): Trading with a P/E of ~118x, ETERNAL commands a premium due to its proven profitability (Net Profit ~₹691 Cr/quarter) and market leadership. The stock is up 2.44% today.
• SWIGGY (₹416.50): While priced higher in absolute terms, Swiggy remains loss-making (Net Loss ~₹3,117 Cr recently). Swiggy shares also saw positive movement recently but lack the earnings support that ETERNAL currently enjoys.

Performance Insight: ETERNAL outperforms on profitability metrics, making it a safer bet for conservative institutional capital, whereas Swiggy remains a high-beta growth play.

🎯 Analyst Verdict

Signal: Accumulate on Dips / Monitor for Breakout

The setup for ETERNAL is constructive. The successful defense of the ₹290 level following the block deal is a significant sign of strength. The stock is not yet in a runaway “Buy” mode but is building a solid base.

• Bullish Case: A sustained daily close above ₹300 would confirm the resumption of the primary uptrend, potentially targeting the ₹320-₹325 zone.
• Bearish Case: A slip below ₹290 would invalidate the short-term bullish thesis, likely pushing the stock toward the ₹280 consolidation zone.

Verdict: Traders should watch the ₹300 psychological level closely. Investors with a long-term horizon may view the current levels as an accumulation zone, given the company’s “Leader” category ESG rating and solidifying Quick Commerce dominance.

Note: This analysis is based on market data as of Dec 13, 2025. Always consult a SEBI-registered investment advisor before making financial decisions.