Latest news with #Eternal
India.com
9 hours ago
- Business
- India.com
Rs 20000000000 earned in just 2 days! Blinkit makes Deepinder Goyal even richer by..., beats BIG companies like Wipro, Tata Motors, others
BIG trouble for Deepinder Goyal as internal whistleblower alleges... Zomato CEO responds, says.... Deepinder Goyal, one of India's modern business icons, is once again in the news. His company, Eternal, has seen a big jump in its share price and the reason behind this sudden rise is its quick commerce business, Blinkit. Because of this sharp rally, Goyal's personal wealth has gone up by nearly Rs. 2,000 crore in just two days. In the last two trading sessions, Eternal's shares have increased by over 21 per cent. On the NSE, the stock even hit an all-time high of Rs. 311.60. This strong performance has pushed Eternal's market value beyond Rs. 3 lakh crore, making it more valuable than big names like Wipro, Tata Motors, Nestlé, and Asian Paints. Deepinder Goyal's net worth crosses Rs. 11,500 crore Deepinder Goyal, who is 42 years old, owns 3.83 per cent of Eternal. Thanks to the rise in the share price, his total wealth has now crossed Rs. 11,515 crore. According to Forbes, his net worth is now about USD 1.9 billion, placing him among the fastest-growing entrepreneurs in India. The rise in Eternal's share price The rise in Eternal's share price is not random as the biggest reason behind it is the growth of its quick delivery business, Blinkit. According to reports, Blinkit's net order value (NOV) has now become bigger than Zomato's food delivery business. Eternal's success is also helping its competitors and investors. For example, Swiggy's shares jumped 7 per cent in a single day. Info Edge, which owns 12.38 per cent of Eternal, saw its stock price rise by more than 3 per cent. Now, Eternal is planning to open 3,000 Blinkit stores in the future, though the exact time of the plan has not been revealed yet. Who is Deepinder Goyal and how did he start Zomato? Deepinder Goyal is the co-founder and CEO of Zomato. He started the company in 2008 along with his friend Pankaj Chaddah. At first, the website was called Foodiebay. It simply showed menus of different restaurants. The idea came to him when he was working at Bain & Company. He noticed that people in his office often struggled to find restaurant menus during lunch. That's when he got the idea as to why not put all the menus of the restaurants in one platform? Later in 2010, the company was renamed Zomato, and it slowly became a popular name in the food industry. What was Deepinder Goyal's early life and education like? Deepinder Goyal was born on 26 January 1983 in a small village in Punjab. He did his schooling in Chandigarh. After that, from 2000 to 2005, he studied at IIT Delhi, where he earned a degree in Mathematics and Computing. After college, he got a job at Bain & Company, a global consulting firm. That's where his journey toward starting Zomato began. What services does Zomato offer today? Today, Zomato offers many useful services in India and the UAE. It helps people order food online, book tables at restaurants, and read reviews written by other customers. In 2022, Zomato also bought Blinkit (which was earlier called Grofers). Blinkit delivers groceries and daily essentials in just 10 minutes.
Time of India
9 hours ago
- Business
- Time of India
Explained: How Zomato's Deepinder Goyal became Rs 2,000 crore richer in just 2 days
Deepinder Goyal, the Zomato CEO, is once again making headlines as the billionaire's net worth has jumped by around Rs 2000 crore in just 2 days. According to an ET report, following a blistering rally in Eternal shares, Deepinder Goyal got Rs 2,000 crore richer in just 2 days, on Tuesday. As per the report, the investors have reacted positively to the rapid expansion of Blinkit, the quick commerce division of Eternal, leading to a surge of over 21 per cent in the company's shares over the past two days. The stock even reached a new all-time high of Rs 311.60 on the NSE. Eternal's 42-year-old founder and CEO, Goyal, who is a self-made billionaire, has seen the value of his 3.83 per cent stake in the company rise to Rs 11,515 crore as a result of it. Deepinder Goyal's net worth is now estimated to be $1.9 billion According to Forbes's list of real-time billionaires, the IITians' net worth is $1.9 billion (Rs 15,820 crore). Meanwhile, during the whole day, the Eternal shares surpassed the R 3 lakh crore market capitalisation mark. Additionally, now it is more valuable than the likes of Wipro, Tata Motors, Nestlé, and Asian Paints. The impact was not only seen on Blinkit, but the boom in Eternal share also positively impacted the rival company Swiggy, which rallied over 7 per cent during the day. How did Zomato's Deepinder Goyal add Rs 2000 crore as Eternal shares hit a record? On Tuesday, shares of Eternal jumped over 21 per cent in the past 48 hours, hitting a new record high of Rs 311.60 on the NSE, reported India Today. The rally came despite the company reporting a 90 per cent year-on-year fall in its consolidated net profit for the quarter ended June 2025 (Q1FY26). The net profit stood at Rs 25 crore, down from Rs 253 crore in the same period of the previous year. Following the release of Eternal's first-quarter financial year 2026 earnings, the share price experienced a significant rise. In the first quarter of FY26, Zomato's parent business reported a 90 per cent year-over-year drop in net profit to Rs 25 crore. However, during the reviewed quarter, its operating revenue rose by 70 per cent year over year to Rs 7,167 crore. The increase in Eternal's share price was further reinforced by positive management remarks. Revenue generated from the food delivery segment rose by over 16 per cent For Q1 FY26, the company noted a rapid commerce revenue of Rs 2,400 crore, up approximately 155 per cent YoY from Q1 FY25's revenue of Rs 942 crore. The meal delivery segment's revenue increased by more than 16 per cent year over year to Rs 2,261 crore. FAQs Q. What does this mean for Eternal? The spike in share price pushed Eternal's market capitalisation past Rs 3 lakh crore, making it more valuable than rival companies Wipro, Tata Motors, Nestle, and Asian Paints. Q. How many shares does Deepinder Goyal have? The sudden rally transition translated into a significant wealth gain for Eternal CEO Deepinder Goyal, who holds nearly 369,471,500 shares in the company. For the latest and more interesting financial news, keep reading Indiatimes Worth.
Mint
9 hours ago
- Business
- Mint
Eternal market cap zooms past Wipro, Tata Motors, Asian Paints, other Nifty 50 stocks; valuation triples since listing
Eternal share price extended its gains for the third consecutive session on Wednesday. In the previous session, the stock jumped over 10% to hit a fresh 52-week high of ₹ 311.60 apiece on the BSE. The rally lifted Eternal's market capitalisation to over ₹ 3 lakh crore, positioning it among the top 26 companies in the Nifty 50 index. The shares of food delivery giant Zomato's parent company has surged 18% over the past three sessions, and have now surpassed the market capitalisation of several established names, including Wipro ( ₹ 2.72 lakh crore), Tata Motors ( ₹ 2.52 lakh crore), Coal India ( ₹ 2.40 lakh crore), Bajaj Auto, Asian Paints, and Nestle India. State-run PowerGrid Corporation was trading with a market value near ₹ 2.78 lakh crore. Eternal share price has witnessed significant growth since its stock market debut on July 23, 2021, exactly four years back. The company was listed at ₹ 116 per share on the NSE, a 52.63% premium over its IPO issue price of ₹ 76, giving it a market cap of over ₹ 1 lakh crore on listing day. Since then, Eternal has become part of the benchmark Nifty 50 index and has outpaced several legacy companies in terms of market value. Zomato's parent company reported a 90% year-on-year (YoY) decline in net profit during the first quarter of FY26, falling to ₹ 25 crore. Despite the plunge in profit, revenue from operations surged 70% YoY to ₹ 7,167 crore during the quarter. For the first time, Blinkit's net order value (NOV) exceeded that of Eternal's core food delivery business on a full-quarter basis. The company noted that, on an annualised basis, total NOV across its B2C businesses has reached nearly $10 billion, with Blinkit now contributing close to 50% of that figure. Blinkit's Q1 FY26 revenue jumped to ₹ 2,400 crore, compared to ₹ 942 crore in the same quarter last year. Gross order value (GOV) for Blinkit grew 140% YoY. The business also showed improvement on the profitability front, with adjusted EBITDA loss narrowing to ₹ 162 crore from ₹ 178 crore in Q4 FY25. 'Eternal once again surprised us positively on Blinkit. This time though, the surprise was more on management commentary than the reported numbers, as it was quite a contrast to the cautious tone post Q4FY25 results,' JM Financial said. Notably, the company stated that Blinkit's EBITDA losses have peaked — both in margin and absolute terms — and that its transition to an inventory-led model over the next 2–3 quarters could improve margins by approximately 100 basis points (as a percentage of NOV), while requiring only limited working capital. Eternal also indicated plans to nearly double Blinkit's dark store count from 1,544 to 3,000, further highlighting its aggressive expansion strategy. Despite the strong performance of Blinkit, there were some concerns in Eternal's Q1 results. The adjusted EBITDA margin for the food delivery business contracted sequentially for the first time in 14 quarters. Additionally, there was an unexpected rise in investments in 'Bistro' — a venture operated by Blinkit. Nonetheless, JM Financial believes the positives in Blinkit are likely to outweigh the misses in other businesses. The brokerage firm reiterated Eternal as its preferred pick with a 'Buy' rating on the stock, and an unchanged target price of ₹ 320 June 2026, implying a price-to-earnings ratio (PER) of 75x. Eternal share price has gained 18% in one month and more than 25% in three months. The stock has rallied 35% over the past six months, while it has risen 9% on a year-to-date (YTD) basis. Eternal share price has delivered multibagger returns of 273% in two years and a staggering 460% in three years. At 1:50 PM, Eternal share price was trading 0.37% higher at ₹ 300.95 apiece, with a market-cap of ₹ 2,90,427.30 crore, on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
12 hours ago
- Business
- Economic Times
Can Swiggy ride the sentiment wave after Eternal's blowout quarter?
Swiggy shares saw renewed interest after Eternal, the parent of Zomato and Blinkit, posted strong operational metrics in Q1FY26, despite a sharp drop in profit. With investors bullish on the quick commerce theme, attention is now turning to Swiggy ahead of its results. ADVERTISEMENT Eternal's Q1 report showed a 70% year-on-year jump in revenue, driven by strong performances in Blinkit and food delivery. Notably, quick commerce Net Order Value (NOV) surpassed food delivery for the first time in a full quarter, reflecting a significant shift in consumer growth sparked optimism among investors, with brokerages like Jefferies upgrading Eternal to a Buy, calling Blinkit's momentum 'underestimated.' The upbeat sentiment quickly spilled over to Swiggy, which also operates in the high-growth quick commerce space. Swiggy stock, currently trading at Rs 417, has gained 21% over the last three months. However, it remains 32% below its 52-week high of Rs 617 and is down 23% year-to-date. Analysts believe this recent upward momentum could continue if technical indicators hold. According to Kunal V Parar, VP – Technical Research & Algo at Choice Broking, the stock has formed a Cup and Handle pattern and is trading above both its 50-day and 100-day moving averages.'A bullish crossover and RSI above 70 indicate strong momentum. A breakout above the neckline could push the stock towards Rs 453 and potentially Rs 525,' said Parar. ADVERTISEMENT Drumil Vithlani, Technical Analyst at Bonanza, added that Swiggy has been forming higher highs and higher lows since June, suggesting a continued positive undertone.'As long as the stock holds above Rs 400, we expect a gradual move towards Rs 440 in the near term,' Vithlani noted. ADVERTISEMENT Swiggy is yet to announce its Q1FY26 results, but given Eternal's strong revenue growth and sector-wide momentum, investors may position early in anticipation of similar Swiggy's numbers confirm rising traction in food delivery and quick commerce, analysts believe the stock could reclaim higher levels last seen earlier this year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
India Today
12 hours ago
- Business
- India Today
Deepinder Goyal adds Rs 2,000 crore as Eternal shares hit record high
Zomato founder Deepinder Goyal saw his wealth rise by Rs 2,000 crore in just two days, thanks to a sharp rally in the shares of Eternal, the parent company of Zomato and of Eternal jumped over 21% in the last 48 hours, hitting a new record high of Rs 311.60 on the NSE on rally came despite the company reporting a 90% year-on-year fall in its consolidated net profit for the quarter ended June 2025 (Q1FY26). Net profit stood at Rs 25 crore, down from Rs 253 crore in the same period last who owns a 3.83% stake in Eternal, now has an estimated net worth of around Rs 11,515 crore ($1.9 billion). The 42-year-old IIT graduate became Rs 2,000 crore richer in just 48 hours as Eternal's market value crossed Rs 3 lakh crore. With this, Eternal has now overtaken companies like Wipro, Tata Motors, Nestle, and Asian Paints in terms of market of the growth in Eternal's stock is being driven by the quick-commerce platform Blinkit, which has now overtaken Zomato in net order value (NOV). This marks a major shift in the company's business focus and market strong stock movement has also positively impacted investor sentiment across the board. Rival food delivery platform Swiggy saw its stock price rise by more than 7%. Info Edge, which holds a 12.38% stake in Eternal, also gained around 3%, with its Eternal holding now contributing to more than one-third of its own market houses have turned positive on Eternal's outlook. Jefferies upgraded the stock to a 'Buy' and raised its target price to Rs 400. The global brokerage admitted it had earlier overestimated competition in the quick-commerce to Jefferies, 'Eternal is a play on the growing food services industry in India and increasing adoption of digital commerce. With only about 23 million monthly transacting users at present, Zomato's food delivery business still has a lot of room to grow. Blinkit is now the market leader in the fast-growing quick-commerce segment and is likely to show better profit margins going forward.'Domestic brokerage Motilal Oswal also maintained a 'Buy' rating on Eternal, raising the target price to Rs 330 from Rs 310. The brokerage noted that losses in quick commerce are now stabilising and Blinkit's strong performance, gross order value (GOV) up 140% year-on-year, is pushing it also pointed out that net profit for Q1FY26 was lower than expected (Rs 25 crore versus Rs 270 crore forecast). Still, Motilal Oswal expects Eternal's revenue to grow by 66% and its adjusted EBITDA to rise 15% in the second quarter of FY26 compared to the same period last year.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends advertisement
