Archive · 5 Jun 2025
Eternal Shares Rally Following Morgan Stanley's Top Pick Rating
Shares of Eternal, the company behind the food delivery service Zomato, went up by over 4% in trading.
This increase is mainly because a financial firm called Morgan Stanley still thinks the company is a good investment.
They predict the quick commerce market in India will grow to a huge $57 billion.
Morgan Stanley also believes that the delivery business will become more profitable, and has set a target for Eternal's share price to increase, making them attractive for investors.
Despite earlier drops, the brokerage’s analysts think the company is doing well.
Eternal's shares increased over 4% in early trading on Thursday.
Morgan Stanley maintained its top pick rating for Eternal, citing leadership in food delivery and quick commerce.
Morgan Stanley projects the quick commerce market in India to reach $57 billion by 2030.
Morgan Stanley anticipates improvement in food delivery margins.
The brokerage has a price target of Rs 320 for Eternal, suggesting a 33% upside.
- Who
- Eternal, parent company of Zomato.
- What
- Eternal shares experienced a rise
- When
- Over the past five trading sessions
- Where
- India
- Why
- Attributed to Morgan Stanley's positive outlook on the company.
- Company
- Eternal
- Share Price Increase (approx. 10:06 AM)
- 4.42%
- Share Price on BSE (approx. 10:06 AM)
- Rs 256.35
- Morgan Stanley Price Target
- Rs 320
- Potential Upside
- 33%
- Quick Commerce Market Forecast
- $57 billion by 2030
