Eternal, the parent company of Zomato and Blinkit, has been on a strong recovery run on Dalal Street as investor sentiment towards the stock improves. Investors appear to be appreciating the company's improving execution in its quick commerce business, with the progress also reflected in its September quarter earnings.
The shares began the year on a tepid note, closing the first three months in the red, with the sell-off dragging the stock to nearly a one-year low. However, the stock's fortunes turned in April, and the rally has only strengthened since then, with the shares ending each subsequent month higher and scaling new records along the way.
From its March low of ₹212.60 apiece, the stock has recovered 71% to close at ₹363 on Monday. The sharp turnaround has made it the biggest recovery story among Nifty constituents in 2026.
While Eternal has been winning back investors' confidence, its close peer Swiggy is facing deep trouble. Swiggy's shares have crashed 51% in less than 11 months, adding to the 29% decline recorded in 2025. This highlights the contrasting fortunes of two companies operating in the same business, with Eternal staging a strong recovery while Swiggy continues to struggle.
India's Eternal expects growth in Blinkit, its quick-commerce business, to accelerate from the December quarter, as the company bets on a more stable competitive environment to expand its network faster without compromising margins.