The latest slide marks the stock’s longest losing streak since April–May 2022, when it declined for nine straight sessions
Shares of Eternal fell for an eighth consecutive session on Thursday, surrendering early gains after a large block deal weighed on sentiment. The latest slide marks the stock’s longest losing streak since April–May 2022, when it declined for nine straight sessions.
Around 9.7 crore shares, representing nearly one per cent of the company’s outstanding equity, changed hands in the transaction at an average price of Rs 247.75 per share.
The total deal value stood at approximately Rs 2,403 crore. The identities of the buyers and sellers involved in the block trade were not disclosed. Despite the near-term weakness, brokerages remain broadly positive on the company’s long-term outlook. In a note issued on Wednesday, Bernstein said it continues to hold a constructive view on India’s quick commerce segment, citing strong structural fundamentals.
The brokerage described the space as a potential “anti-AI” investment theme, though it cautioned that investors may need to withstand narrative-driven volatility in the coming quarters. Bernstein maintained its “outperform” rating on Eternal with a target price of Rs 370.
Analyst sentiment towards the stock remains largely favourable. Of the 33 analysts covering Eternal, 30 have a “buy” recommendation, while the remaining three rate the stock as a “sell”.
At the time of writing, the shares were fluctuating between gains and losses and were trading marginally lower, down 0.2 per cent at Rs 249.6 apiece. The recent decline comes amid heightened market sensitivity to large block trades and evolving sentiment around high-growth internet and quick commerce businesses.
