Eternal shares drop amid competition concerns

Eternal Ltd, the company that owns Zomato and Blinkit, saw its shares drop by 5.3% on December 16, 2023.

This was the biggest drop in five months and happened because many people were selling their shares and there were concerns about competition.

The shares started lower and kept falling, losing all the gains from the previous three days.

So far in December, the shares have lost 4%, but they are still up a little bit for the whole year.

A lot of shares were traded, more than usual.

There have been some big deals recently where lots of shares were sold.

The shares have been falling since they reached a record high in October, partly because of new rules about how companies have to pay for workers' benefits.

Experts think the companies might raise prices a little to cover these costs, but it probably won't bother customers too much.

Despite this, some analysts still think the company is a good investment and have set a new target price for the shares.